Bankruptcy Act · 2021 Revised Edition · Part 3
58. Vesting and transfer of property
Official textFrom Attorney General's Chambers, unchanged
Until a trustee is appointed, the Official Receiver shall be the trustee for the purposes of this Act, and immediately on a debtor being adjudged bankrupt, the property of the bankrupt shall vest in the trustee.
On the appointment of a trustee the property shall forthwith pass to and vest in the trustee appointed.
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;
The property of the b a r h p t shall pass from trustee to trustee, including under that term the Official Receiver when he fills the office of trustee, and shall vest in the trustee for the time being during his continuance in office, without any conveyance, assignment or transfer whatever.
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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