ADVOKS GLOBAL · KENYA
Insolvency Act
66. Bankruptcy trustee to bank money and power to invest surplus
Edition: 2022-12-31 · In force
66. Bankruptcy trustee to bank money and power to invest surplus
(1)A bankruptcy trustee shall establish and maintain a bank account in respect of each bankrupt estate administered by that trustee and shall pay into the relevant account all money that that trustee receives in that capacity.(2)If money held by a bankruptcy trustee in respect of a bankrupt's estate is not immediately required to be paid in connection with the administration of the estate, the bankruptcy trustee may invest the money in an investment of a kind prescribed by the insolvency regulations for the purposes of this section.(3)A bankruptcy trustee who invests money in accordance with subsection (2) shall credit to the bankrupt's estate the interest, dividends or other money that accrues in respect of the investment.