CTHRepealedAct
Bankruptcy Act 1924
Control of creditors over trustee.Control of creditors over trustee.
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### Control of creditors over trustee.
E.B.A., s. 79.
N.S.W., s. 95.
Vic., s. 94.
Q., s. 123.
S.A., ss. 142, 145.
W.A., s. 86.
Tas., s. 19.
147.—(1.) Subject to this Act, the trustee shall, in the administration of the property of the bankrupt and in the distribution thereof amongst his creditors, have regard to any directions given by resolution of the creditors at any general meeting.
(2.) The trustee shall summon general meetings of the creditors at such times as the creditors, by resolution, either at the meeting appointing the trustee or otherwise, direct, or whenever requested in writing so to do by one-fourth in value of the creditors.
(3.) Any creditor, with the concurrence of one-sixth in value of the creditors including himself, may at any time require the trustee to call a meeting of the creditors, and the trustee shall within fourteen days of such requirement call the meeting accordingly.
(4.) The creditor making the requirement shall deposit with the trustee a sum sufficient to pay the costs of summoning the meeting, which sum shall be repaid to him out of the estate if the creditors by resolution so approve or the Court so directs.