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Thursday, 26 November 1914


Senator KEATING (Tasmania) . - The whole object of the clause is this: The trustee is to receive the remuneration- he is authorized to receive in connexion with the bankruptcy - no more and no less. Paragraph a provides that he shall not make any arrangement with anybody in connexion with the bankruptcy for any gift, remuneration, pecuniary or other consideration, or benefit whatever beyond that fixed by the creditors. Then, in paragraph b, it is provided that he is to get no less than the remuneration fixed by the creditors. He is not to get it under cover of remuneration, and hand back some of. it to somebody. It is provided that he shall not make any arrangement for giving up or give up any part of his remuneration to the bankrupt, or any solicitor or other person employed about the bankruptcy. The object of my amendment to strike out the words " employed about the bankruptcy " is to prevent the trustee not merely from returning a part of his remuneration to the bankrupt, a creditor or solicitor, but to any other person. Conceivably he might return it to a person in no way employed about the bankruptcy, but that person might be in such close relation with one or more of the creditors that through him the part of the trustee's remuneration given up might go to those creditors. It might be because of such a secret understanding that a certain trustee would be appointed or would be authorized to receive a very high rate of remuneration. The clause as it stands is intended to prevent the trustee paying back any part of his remuneration to the bankrupt or any solicitor or other person employed about the bankruptcy, but it would not prevent him paying a portion of his remuneration to some person not employed about the bankruptcy who might afterwards pass it on to the bankrupt, the solicitor, or a creditor. It is in order to avoid such an arrangement as that that I desire to have the words " employed about the bankruptcy " struck out.

Amendment negatived.

Clause, as amended, agreed to.

Clauses 124 to 134 agreed to.

Clause 135-

(1)   Where the trustee carries on the bankrupt's business, he shall keep a separate business account, and shall incorporate in the prescribed books kept by him and so as to bs readily ascertainable the total weekly amounts of the receipts and payments.

(2)   The business account shall from time to time as may be prescribed be verified by affidavit of the trustee, and the trustee shall thereupon submit the account to the Registrar or to the Committee of Inspection (if any) or such member thereof as may be appointed by the Committee for the purpose.







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