Bankruptcy Act · 2021 Revised Edition · Part 3
46. Duties of bailiff as to goods taken in execution
Official textFrom Attorney General's Chambers, unchanged
Where any movable property or negotiable instruments or money of a debtor are taken in execution and before the receipt or recovery by the judgment creditor of the full amount of the levy, notice is served on the bailiff that a receiving order has been made against the debtor, the bailiff shall on request deliver the movable property, negotiable instruments or money or any money received in satisfaction or part satisfaction of the execution to the Official
Receiver;
the costs of the execution shall be a first charge on the property so delivered and the Official Receiver or trustee may sell the movable property or negotiable instruments or an adequate part thereof or apply the money for the purpose of satisfying the charge.
Where, under an execution in respect of ajudgment for a sum exceeding $1 0,000, the property of a debtor is sold or money is paid in order to avoid sale -
property
"property" includes money, goods, things in action, land and every description of property, whether real or personal and whether situate in Brunei Darussalam or elsewhere, also obligations, easements and every description of estate, interest and profit, present or future, vested or contingent, arising out of or incident to property as above defined;
[S 78/20] 21
the bailiff shall deduct his costs of the execution from the proceeds of sale or the money paid and pay the balance into Court, and
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Bankruptcy
if within 14 clear days of such sale or payment a bankruptcy petition is presented by or against the debtor, the balance shall remain in Court and if the debtor is adjudged bankrupt, the balance shall be paid out to the trustee in the bankruptcy, who shall be entitled to retain the same against the execution creditor but otherwise it shall be dealt with as if no bankruptcy petition had been presented.
Terms defined in s 2
property
Defined · s 2"property" includes money, goods, things in action, land and every description of property, whether real or personal and whether situate in Brunei Darussalam or elsewhere, also obligations, easements and every description of estate, interest and profit, present or future, vested or contingent, arising out of or incident to property as above defined;
Chapter
Chapter 19), unless he informs the trustee in writing to the contrary, is deemed to be his last known address for the purpose of subsection (3).
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