CTHRepealedAct
Bankruptcy Act 1924
Investment of surplus lands.Investment of surplus lands.
Start here
Get a plain-English read of Investment of surplus lands.
Turn the raw legal text into a practical explanation grounded in Bankruptcy Act 1924.
### Investment of surplus lands.
Cf. E.B.A., s. 90.
W.A., s. 37.
Vic., s. 117.
S.A., s. 228.
141. Whenever the cash balance standing to the credit of the bankrupt’s estate account is in excess of the amount which in the opinion of the trustee is required for the time being to answer demands in respect of the estate, the trustee may invest the excess or any part thereof on fixed deposit in such bank and for such term as is approved by the Registrar, and any interest received in respect of the deposit shall be part of the assets of the estate.