Section 74B
Disqualification of bankrupt
ActIn forceProvision 77 of 120
Section 74B
(1)
In addition to any disqualification under any other written law.
a bankrupt shall be disqualified from being appointed or acting as a trustee or personal representative in respect of any trust, estate or settlement, except with leave of the court.
(2)
Any disqualification to which a bankrupt is subject under this section shall cease when -
(a)
the bankruptcy order against him is annulled or rescinded;
or
(b)
he is discharged under section 30 or 30A.
(3)
Any person who acts as a trustee or personal representative while he is disqualified by virtue of subsection (1) is guilty of an offence and liable on conviction to a fine not exceeding $5,000, imprisonment for a term not exceeding 12 months or both.