In force2021 Revised EditionCurrent version · 2021 Revised EditionSee versions on Attorney General's Chambers(opens the publisher’s site)
Bankruptcy Act · 2021 Revised Edition · Part 5
Bankruptcy Act · 2021 Revised Edition · Part 5
Official textFrom Attorney General's Chambers, unchanged
The creditors may, if they think fit, appoint more persons than one to the office of trustee and, when more persons than one are appointed, shall declare whether any act required or authorised to be done by the trustee is to be done by all or any one or more of such persons, but all such persons are in this Act included under the term "trustee" and shall be joint tenants of the property of the bankrupt.
The creditors may also appoint persons to act as trustees in succession in the event of one or more of the persons first named declining to accept the office of trustee or failing to give security or of the appointment of any such person not being approved by the Court.
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;