Division 1 Creditors’ meetings
Division 2 Statements of affairs
Division 3 Trading accounts, etc., of bankrupt’s business
Division 4 Settlement of list of debtors to estate
Division 5 Monthly contribution and target contribution
Division 6 Procedure for proving of debts and quantification of claims in proofs
Division 7 Secured creditors
Division 8 Taking accounts and sale of mortgaged property
Division 9 Admission and rejection of proofs
Division 10 Acceptance of composition or scheme
Division 11 Disclaimers
Division 12 Realisation of bankrupt’s property
Division 13 Special manager
Division 14 Distribution of dividends
| Division 14 — Distribution of dividends |
| Notice of intended dividend |
| Provision for dividend |
75.—(1) A creditor who has made, or who intends to make, any of the following applications must, in writing and within 14 days after the date of a notice of intended dividend sent to the creditor under regulation 74, inform the trustee of the bankrupt’s estate of the application or intention:
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| Declaration of dividend |
76.—(1) Subject to regulation 75(3), after the expiration of 14 days after the date of the notice of intended dividend sent by a trustee of a bankrupt’s estate, the trustee must proceed to declare a dividend, and send to each creditor a notice of dividend specifying the percentage of dividend payable and the amount of dividend payable to the creditor.
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| Production of bills of exchange, etc. |
| 77. Subject to section 70 of the Bills of Exchange Act (Cap. 23), a bill of exchange, promissory note, or other negotiable instrument or security upon which proof has been made must, unless the Court on special grounds dispenses with its production, be exhibited to the trustee of the bankrupt’s estate in question before payment of any dividend on the proof, and the amount of dividend paid must be endorsed on the instrument. |
| Separate firms |
78.—(1) If any 2 or more of the members of a partnership constitute a separate and independent firm, the creditors of such firm are treated as a separate set of creditors and subject to the same rules as the separate creditors of any individual member of the partnership.
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