exercise of the powers and authorities in him vested for this purpose, doth hereby make and put into force the following regulations for the conduct of business under the said "Debtors and Creditors Act, 1862," and the said "Debtors and Creditors Act Amendment Act, 1865," by Registrars of the Supreme Court, sequestrators, trustees, inspectors, receivers, attorneys and solicitors, agents, auctioneers and other persons employed in the management or winding up of intestate estates.

FORSTER GORING,
Clerk of the Executive Council.

I.—Registrars.

1. It shall be the duty of every Registrar to forward notices to every sequestrator or trustee appointed by the Court, informing him of his appointment, and requiring from him an intimation as to whether he will accept the office or decline it; and should any such sequestrator or trustee refuse or neglect to accept the office within a reasonable period, it shall be the duty of the Registrar to report the same to the Supreme Court.

2. Every Registrar shall, immediately after the filing of a petition and schedule, furnish to the Inspector in Bankruptcy a copy of the same, as well as a notice of the registration of any deed or instrument registered in the Supreme Court under the provisions of the Debtors and Creditors Acts, containing the date of the deed, the date of registration, and the names of the parties to the said deed, so far as such names appear therein.

II.—Inspectors.

3. Every Inspector shall keep a book of register, as well as a book that shall show a statement of all receipts and expenditure relating to the several estates under administration, which books shall be open during office hours for the inspection of any creditor who has proved his debt, and shall be in the Forms 1 and 2 prescribed in the Schedule hereunto annexed.

4. When any Inspector shall issue a summons for the attendance of any debtor, sequestrator, trustee, receiver, attorney, solicitor, agent, auctioneer, or other person employed in the management or winding-up of a sequestered estate, it shall be in the Form B., prescribed in the Schedule hereunto annexed.

5. Before payment of costs, charges or expenses, by any sequestrator or trustee, an account of them shall be submitted for approval to the Inspector, who may certify to the same.

6. Every Inspector shall, at the expiration of each calendar month, forward to the Colonial Treasurer or the Sub-Treasurer of his district a statement showing the amount of fees payable by sequestrators or trustees upon the assets realized each month in respect of the estates under his inspection, such statement to be in the Form C. prescribed in the Schedule hereunto annexed.

III.—Sequestrators, Trustees, etc.

7. Every interim sequestrator, sequestrator, or trustee shall, immediately after the date of his appointment as sequestrator or trustee of any estate, place himself in communication with the Inspector, and shall also lodge with the said Inspector, within seven days after appointment, an inventory of all the real and personal property of the insolvent, with the valuation of the same, as well as a list of the books and documents connected with the estate of the said insolvent: Provided however, on cause shown, the Inspector may grant an extension of the last-mentioned term.

8. Every trustee shall, within a period of three months immediately succeeding appointment, furnish to the Inspector a detailed account of receipts and expenditure in any estate which he may hold in trust, together with a statement of the balance then in the bank belonging to such estate, with such other information as may be likely to affect the position of the estate. All further accounts shall be furnished within three months after the date of the immediately preceding account.

9. Before any sequestrator or trustee shall dispose of an insolvent estate, he shall first communicate with the Inspector, and obtain his sanction thereto.

10. Every trustee before commencing an action at law, with reference to matters having relation to any estate he holds in trust by him, shall first communicate his intention so to do to the Inspector, and obtain his sanction thereto.

11. Every sequestrator shall, on or before the fifth day after the expiration of every calendar month, pay into the Colonial Treasury the fees payable under section twenty eight of "The Debtors and Creditors Act Amendment Act, 1865," and trustees, shall, within three months from the date of their appointment, pay into the Colonial Treasury all fees due on assets realised during the last aforementioned period, and all subsequent payments shall be made within the time prescribed by section number eight of these Regulations.

12. In the event of any meeting of the creditors in any estate being convened otherwise than under and by virtue of a rule or order of the Supreme Court or any Judge thereof, it shall be the duty of such sequestrator or trustee to give to the Inspector at least one clear day’s notice in writing of such meeting having been convened, stating the time and place for holding the same, as well as the business to be considered at such meeting.

13. Before the declaration of any dividend by the sequestrator or trustee of any estate, the accounts of the estate shall first have been examined and audited by the Inspector, and sanction obtained as to the payment of a dividend.

14. Before the payment of any dividend at least ten days’ notice of the same shall be given by all trustees, and such notice shall be published in one of the local newspapers.

15. Every trustee being thereto instructed by the Inspector shall, after the declaration of any final dividend in any estate, pay into the Colonial Treasury all unclaimed dividends to the credit of a fund to be called "The Unclaimed Dividend Fund," to be withdrawn by the parties entitled thereto upon the production of a certificate from the Inspector in Bankruptcy acting for the estate.

16. Every sequestrator or trustee shall, being thereto required by the Inspector in Bankruptcy, verify, by declaration in the manner and form provided by "The Justices of the Peace Act, 1866," the final accounts of any estate administered by him.

17. Every sequestrator or trustee, receiver, attorney, solicitor, agent, auctioneer, or other person employed in the management or winding up of sequestered estates, who shall receive an order from the Inspector relative to any insolvent estate shall comply with the same.

18. Every sequestrator or trustee shall keep possession of all the books and documents of an insolvent debtor until the final winding up of the estate; when the said books and documents shall be lodged with the Inspector; and in the event of the estate of any insolvent debtor being sold by a sequestrator or trustee, the books and documents of such debtor shall be lodged with the Inspector, who shall, upon an order signed by a sequestrator or trustee, permit the temporary use, for the purpose of proof of debts, of any of the said books and documents; and, in like manner, shall permit the person purchasing the said estate to make any extract from the said books and documents which he may require. Books and documents thus obtained under order of the trustee shall, at the expiration of the time during which their use was requested, be returned forthwith to the Inspector.

General.

19. Every debtor shall, immediately upon filing his petition, furnish the Inspector with correct information as to his place of abode, and shall, in case he shall at any time change such place of abode before his final discharge, report the same to the Inspector.

20. Every debtor shall attend, whenever required by the Inspector, for the purpose of assisting in the realization of the estate.