Paragraph 77 I1

Modified Article 272 (set out in paragraph 16) is amended as follows.

In paragraph (1)(a), for “a combined general meeting of creditors of the members and of the partnership” substitute “the creditors of the members and the partnership”.

For paragraph (3) substitute—

“(3)

A person other than the official receiver who has ceased to be the trustee of the estate of any member or of the partnership has his release in accordance with paragraphs (3A) to (3E).

(3A)

Where the person has died, the person has his release with effect from the time at which notice is given to the High Court in accordance with the rules that the person has ceased to hold office.

(3B)

Where the person has been removed from office by the High Court or by the Department, the person has his release with effect from such time as the Department may, on an application by the person, determine.

(3C)

Where the person has vacated office under Article 271(3), the person has his release with effect from such time as the Department may, on an application by the person, determine.

(3D)

Where the person has resigned—

(a)

if the person was appointed by the Department, the person has his release with effect from such time as may be directed by the High Court or as the Department may, on an application by the person, determine;

(b)

if the person was appointed otherwise than by the Department, the person has his release with effect from such time as may be directed by the High Court.

(3E)

Where the person has vacated office under Article 271(6)—

(a)

if any of the creditors of the members and of the partnership objected to the person’s release before the end of the period for so objecting prescribed by the rules, the person has his release with effect from such time as the Department may, on an application by that person, determine;

(b)

otherwise, the person has his release with effect from the time at which the person vacated office.”.