Commonwealth Consolidated Acts

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Duties etc. of trustee

             (1)  The duties of the trustee of the estate of a bankrupt include the following:

                     (a)  notifying the bankrupt's creditors of the bankruptcy;

                     (b)  determining whether the estate includes property that can be realised to pay a dividend to creditors;

                     (c)  reporting to creditors within 3 months of the date of the bankruptcy on the likelihood of creditors receiving a dividend before the end of the bankruptcy;

                     (e)  determining whether the bankrupt has made a transfer of property that is void against the trustee;

                      (f)  taking appropriate steps to recover property for the benefit of the estate;

                     (g)  taking whatever action is practicable to try to ensure that the bankrupt discharges all of the bankrupt's duties under this Act;

                     (h)  considering whether the bankrupt has committed an offence against this Act;

                      (i)  referring to the Inspector-General or to relevant law enforcement authorities any evidence of an offence by the bankrupt against this Act;

                      (j)  administering the estate as efficiently as possible by avoiding unnecessary expense;

                     (k)  exercising powers and performing functions in a commercially sound way;

                      (l)  the duties imposed on the trustee under Schedule 2.

             (2)  Where a person who became a bankrupt on a creditor's petition is unable to prepare a proper statement of affairs, the trustee may employ, at the expense of the estate, a qualified person to assist in the preparation of the statement.

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