Declaration and distribution of dividendDeclaration and distribution of dividends.

### Declaration and distribution of dividends. E.B.A., s. 62. N.S.W., ss. 69–72. Vic., s. 197. S.A., ss. 225, 226. W.A., s. 55. Q., ss. 152, 156. Tas., s. 40. 112.—(1.) Subject to the retention of such sums as are necessary for the costs of administration, or otherwise, the trustee shall, with all convenient speed, declare and distribute dividends amongst the creditors who have proved their debts. (2.) The first dividend, if any, shall be declared and distributed within four months after the conclusion of the first meeting of creditors, unless the trustee satisfies the Registrar that there is sufficient reason for postponing the declaration to a later date. (3.) Unless the Registrar otherwise directs, subsequent dividends shall, in the absence of sufficient reason to the contrary, be declared and distributed at intervals of not more than six months. (4.) Before declaring a dividend, the trustee shall cause notice of his intention so to do to be published in the Gazette and in such other manner as is prescribed, and shall also send reasonable notice thereof to each creditor known to him or mentioned in the bankrupt’s statement who has not proved his debt: Provided that a dividend under a prescribed amount need not be advertised. (5.) When the trustee has declared a dividend, he shall send to each creditor who has proved, a notice showing the amount of the dividend and when and where it is payable, and in the case of the first and the final dividend, a statement in the prescribed form as to the realization of the estate. ###