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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