Bankruptcy and Insolvency Act

Marginal note:Duty of trustee on expiration of licence or removal

• 29 (1) Where

  • (a) the licence of a trustee has been cancelled or suspended, or has ceased to be valid by reason of failure to pay fees,

  • (b) a trustee has been removed from continuing the administration of an estate, or

  • (c) a trustee dies or becomes incapacitated,

  the trustee or the legal representative of the trustee shall, within such time as is fixed by the Superintendent, prepare and forward to the Superintendent a detailed financial statement of the receipts and disbursements together with a list of and report on the unadministered property of every estate under the trustee’s administration for which the trustee has not been discharged, and shall forward to such other trustee as may be appointed in the trustee’s stead or, pending the appointment of the other trustee, to the official receiver all the remaining property of every estate under the trustee’s administration together with all the books, records and documents relating thereto.

• (2) [Repealed, 2005, c. 47, s. 22]