Release of trustee.Release of trustee.

### Release of trustee. E.B.A., s. 93. N.S.W., s. 92. W.A., s. 79. Q., s. 197. Tas., s. 50. 151.—(1.) When the trustee— (a) has realized all the property of the bankrupt, or so much thereof as can, in his opinion, be realized without needlessly protracting the trusteeship, and has distributed a final dividend, if any; or (b) has ceased to act by reason of a composition having been approved, or has resigned, or has been removed from his office, he may apply to the Court for an order of release. (2.) The Court shall, on his application, cause a report on his accounts to be prepared by the Registrar, and on his complying with all the requirements of the Registrar, and after taking into consideration the report, and any objection which may be urged by the Registrar, or by any creditor or person interested, against the release of the trustee, shall either grant or withhold the release accordingly. (3.) Where the release of a trustee is withheld, the Court may make such order as it thinks just, charging the trustee with the consequences of any act done or default made by him contrary to his duty. Tas., s. 52. (4.) An order of the Court releasing the trustee shall discharge him from all liability in respect of any act done or default made by him in the administration of the affairs of the bankrupt, or otherwise in relation to his conduct as trustee, but any such order may be revoked on proof that it was obtained by fraud or by suppression or concealment of any material fact. (5.) Where the trustee has not previously resigned or been removed, his release shall operate as his removal from his office.