Bankruptcy Act, 1988

Excepted articles.

(1857, ss. 298, 299)

45.—(1) A bankrupt shall be entitled to retain, as excepted articles, such articles of clothing, household furniture, bedding, tools or equipment of his trade or occupation or other like necessaries for himself, his wife, children and dependent relatives residing with him, as he may select, not exceeding in value £2,500 or such further amount as the Court on an application by the bankrupt may allow.

(2) Where a bankrupt, after selecting the items constituting the excepted articles, requests the Official Assignee, in writing, not to dispose of the remainder of any such articles as are referred to in subsection (1) the Official Assignee shall not dispose thereof except in accordance with an order of the Court.

(3) The Court may, on the application of the bankrupt or the Official Assignee, in relation to the remainder of such articles—

(a) postpone the removal and sale thereof;

(b) permit them to remain in the use of the bankrupt;

(c) at any time, order them to be taken by or on behalf of the Official Assignee and to be sold for the benefit of the creditors.