Section 103 of Insolvency Act CAP 53: Exercise by Cabinet Secretary of functions of creditor's committee
(1) A creditors' committee may not perform its functions if at any time the Official Receiver is bankruptcy trustee in respect of the bankrupt's estate.
(2) If, in the case of a bankruptcy, no creditors' committee exists and the bankruptcy trustee in respect of the bankrupt's estate is a person other than the Official Receiver, the functions of the creditors committee are to be performed by the Cabinet Secretary, except in so far as the insolvency regulations otherwise provide.
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- Section 104 - Status of property acquired during bankruptcy
(1) Until the bankrupt is discharged—
(a) all property (whether in or outside Kenya) that the bankrupt acquires or that passes to the bankrupt vests in the bankruptcy trustee without that trustee...
- Section 105 - Property vests in replacement bankruptcy trustee
If the bankruptcy trustee is replaced, the property and powers vested in the former bankruptcy trustee under this Act vest in the replacement bankruptcy trustee.
- Section 106 - Property held in trust by bankrupt
Property held by the bankrupt in trust for another person vests in the bankruptcy trustee, who shall assume control of the property and deal with it for the benefit of the beneficiaries of the trust.
- Section 107 - Court may order money due to bankrupt to be assigned to bankruptcy trustee
(1) If a bankruptcy trustee considers it necessary to do so, the bankruptcy trustee may apply to the Court for an order under subsection (2).
(2) On the hearing of an application made under...
- Section 108 - Certain payments to be applied in accordance with the Second Schedule
The bankruptcy trustee shall apply the following payments in accordance with the Second Schedule
(Priority of payments to preferential creditors—
(a) any amount paid by the bankrupt under section...
- Section 109 - When execution creditor may retain execution proceeds
(1) This section applies if a bankruptcy order has been made in respect of a debtor but, before the order was made, a creditor has—
(a) issued execution against the debtor's property; or (b) attached...
- Section 110 - Effect of notice to judicial enforcement officer of bankruptcy
(1) This section applies if a judicial enforcement officer who has taken the property of a debtor in execution is served with notice of the debtor's bankruptcy—
(a) before the property is sold;...
- Section 111 - Judicial enforcement officer to retain proceeds of execution for fourteen days after sale
(1) This section applies if, under execution of a judgment for an amount exceeding ten thousand shillings, the judicial enforcement officer—
(a) sells property of the debtor; or
(b) is paid money in...
- Section 112 - Purchaser under sale by judicial enforcement officer acquires good title
On the sale by the judicial enforcement officer of a debtor's property on which execution has been levied, the purchaser, if acting in good faith, acquires a good title to the property as against the...
- Section 113 - Court may set aside rights conferred on bankruptcy trustee
(1) An execution creditor may make an application to the Court for an order setting aside the rights of the bankruptcy trustee under section 110 or 111.
(2) On the hearing of an application made...
- Section 114 - Transaction in good faith and for value after bankruptcy
(1) This section applies to a transaction between a person and the bankrupt in relation to property that the bankrupt has acquired, or that has passed to the bankrupt, after the bankruptcy has...
- Section 115 - Executions and attachments in good faith
If a bankrupt acquires property, or property passes to a bankrupt, after the bankruptcy has commenced, an execution or attachment against the property is valid as against the bankruptcy trustee if it—...
- Section 116 - When execution or attachment completed for purposes of sections 109 and 115
For the purposes of sections 109 and 115—
(a) an execution against goods is completed by seizure and sale;
(b) an attachment of a debt is completed by receipt of the debt; and
(c) an execution...
- Section 117 - Bankruptcy trustee's interest in property passes to transferee
If the bankruptcy trustee's interest in property is acquired by or passes to a bankrupt after bankruptcy has commenced—
(a) the bankruptcy trustee's interest in the property ends; and
(b) that...
- Section 118 - Bankruptcy trustee may disclaim onerous property
(1) The bankruptcy trustee may disclaim onerous property, subject to section 121.
(2) Subsection (1) applies even if the bankruptcy trustee has taken possession of the property, tried to sell it, or...
- Section 119 - Effect of disclaimer
A disclaimer by the bankruptcy trustee—
(a) terminates, on and from the date of the disclaimer, the rights, interests, and liabilities of the bankruptcy trustee and the bankrupt in relation to the...
- Section 120 - Position of person who suffers loss as result of disclaimer
(1) A person who sustains loss or damage as a result of disclaimer by the bankruptcy trustee may—
(a) claim as a creditor in the bankruptcy for the amount of the loss or damage, taking account of the...
- Section 121 - Bankruptcy trustee may be required to elect whether to disclaim
The bankruptcy trustee loses the right to disclaim onerous property if—
(a) a person whose rights would be affected by the disclaimer has sent the bankruptcy trustee a notice requiring the bankruptcy...
- Section 122 - Liability for rentcharge on bankrupt's land after disclaimer
(1) If land disclaimed by the bankruptcy trustee is subject to a rentcharge, the vesting of that land in any other person (including the State), or the person's successors in title, does not make any...
- Section 123 - Transmission of interest in land
(1) This section applies to an interest in land that—
(a) is owned by the bankrupt;
(b) is subject to a mortgage or a charge; and
(c) is not disclaimed by the bankruptcy trustee.
(2) The...
- Section 124 - Bankruptcy trustee cannot claim interest in land if bankrupt remains in possession until discharge
(1) The bankruptcy trustee cannot, after the bankrupt's discharge, claim an interest in land to which section 123(1) applies and for which the bankruptcy trustee has not registered a transmission if...
- Section 125 - Bankruptcy trustee may transfer shares and other securities
(1) The bankruptcy trustee may transfer the following property belonging to the bankrupt in the same way as the bankrupt could have transferred it but for the bankruptcy—
(a) securities of a...
- Section 126 - Bankruptcy trustee may disclaim liability under shares
A bankruptcy trustee may disclaim any liability under shares owned by the bankrupt in any company by disclaiming the shares as onerous property under section 118, but sections 120 and section 121 do...
- Section 127 - Bankruptcy trustee may disclaim liability under shares
(1) The bankruptcy trustee may disclaim a liability under shares owned by the bankrupt in a company by disclaiming them as onerous property in accordance with section 118.
(2) Neither section 120 nor...
- Section 128 - Bankruptcy trustee may be required to elect whether to disclaim liability under shares
The bankruptcy trustee loses the right to disclaim liability under shares if—
(a) the company or a person who has an interest in the shares has sent the bankruptcy trustee a notice requiring that...
- Section 129 - Transfer of shares after disclaimer
(1) After disclaimer, the bankruptcy trustee may, subject to any other written law and to the company's constitution, transfer the relevant shares to any person who has an interest in them.
(2) If...
- Section 130 - Company may prove for unpaid calls
(1) This section applies if the bankruptcy trustee has disclaimed liability under shares and the company is not in liquidation.
(2) The company may prove in the bankruptcy for—
(a) the amount of...
- Section 131 - Interpretation: Division 11
In this Division—
"cash price", in relation to a sale of goods, means—
(a) the lowest price at which a person could have bought those goods from the creditor on the basis of payment in full at the...
- Section 132 - Restrictions on creditor dealing with goods
(1) If a bankrupt acquired goods under a credit purchase transaction before the bankruptcy commenced and the creditor either—
(a) took possession of the goods within the twenty-one days immediately...
- Section 133 - Bankruptcy trustee's powers in relation to goods that are subject to a credit purchase transaction
(1) In the case of goods to which section 131 applies, the bankruptcy trustee may—
(a) within the thirty-day period referred to in that section, exercise any right conferred by any relevant written...
- Section 134 - Creditor in possession of goods may prove in bankruptcy if bankruptcy trustee has not exercised powers
(1) A creditor may prove in a bankruptcy for the amount (not exceeding that limited by any relevant written law) that the creditor was entitled to recover from the bankrupt as a debtor if—
(a) the...
- Section 135 - Creditor may assign goods to bankruptcy trustee
If—
(a) the bankrupt purchased goods under a credit purchase transaction before the time the bankruptcy commenced; and
(b) at that time the creditor either—
(i) has not taken possession of the...
- Section 136 - Status of bankrupt's property on second bankruptcy
(1) This section applies to and in respect of a bankrupt who, before discharge, is adjudged bankrupt for a second time.
(2) Property that is acquired by, or has passed to, the bankrupt since the...
- Section 137 - Effect of notice to bankruptcy trustee of application for bankruptcy
(1) This section applies if the bankruptcy trustee in respect of a bankrupt's estate receives notice that a creditor has lodged an application for another bankruptcy.
(2) The bankruptcy trustee shall...
- Section 138 - Separate accounts to be kept for each bankrupt
If two or more persons are adjudged bankrupt jointly, the bankruptcy trustee shall keep distinct accounts in respect of—
(a) the joint estate; and
(b) the separate estate of each bankrupt.
- Section 139 - How joint and separate estates are to be applied
(1) When two or more persons have been adjudged bankrupt jointly, the bankruptcy trustee shall first apply—
(a) the joint estate to the debts due by the bankrupts jointly; and
(b) the separate...
- Section 140 - General duty of bankrupt
(1) A bankrupt shall, to the best of the bankrupt's ability, assist in the realisation of the bankrupt's property and the distribution of the proceeds among the creditors.
(2) The duty imposed by...
- Section 141 - Bankrupt to disclose property acquired before discharge
(1) As soon as practicable after acquisition, the bankrupt shall notify the bankruptcy trustee of any property that—
(a) was acquired by, or passed to, the bankrupt before discharge; and (b) is...
- Section 142 - Bankrupt to deliver property to bankruptcy trustee on demand
(1) On demand by the bankruptcy trustee, the bankrupt shall deliver to the bankruptcy trustee, or to a person authorised by the bankruptcy trustee to receive it, all of the bankrupt's property that—...
- Section 143 - Court may impose charge on bankrupt's property
(1) If—
(a) any property consisting of an interest in a dwelling house that is occupied by the bankrupt or by the bankrupt's spouse or former spouse is comprised in the bankrupt's estate;...
- Section 144 - Bankrupt to give bankruptcy trustee accounting records and other documents
(1) As soon as practicable after being adjudged bankrupt, the bankrupt shall—
(a) deliver to the bankruptcy trustee relevant documents that are in the bankrupt's possession or control;...
- Section 145 - Bankrupt to give bankruptcy trustee information relating to property
A bankrupt shall—
(a) as soon as practicable after being adjudged bankrupt—
(i) give the bankruptcy trustee a complete and accurate list of the bankrupt's property and of the bankrupt's creditors...
- Section 146 - Bankrupt to give bankruptcy trustee information relating to income and expenditure
(1) Whenever the bankruptcy trustee requires it, the bankrupt shall provide the bankruptcy trustee with details of the bankrupt's income and expenditure since the bankruptcy commenced.
(2) A bankrupt...
- Section 147 - Bankrupt to notify bankruptcy trustee of change in personal information
(1) A bankrupt shall, within seven days after any change occurs in the bankrupt's name, address, employment or income, notify the bankruptcy trustee of the change.
(2) A bankrupt who, without...
- Section 148 - Bankrupt to give bankruptcy trustee financial information
(1) The bankrupt shall give the bankruptcy trustee (or any person employed by the bankruptcy trustee) the information and details that are necessary to prepare a financial statement that shows the...
- Section 148A - Principles of Data Protection
The principles of personal data protection set out in the Data Protection Act (Cap. 411C) shall apply with necessary modifications to the processing and handling, by the bankruptcy trustee, of the...
- Section 149 - Interpretation: Division 15
In this Division—
"building", in relation to a bankrupt, includes a reference to a part of a building in which the bankrupt holds a proprietorial interest;
"place" includes building, premises,...
- Section 150 - Bankrupt can be required to contribute to payment of debts
(1) If required by the bankruptcy trustee to do so, the bankrupt shall pay an amount or periodic amounts during the bankruptcy as a contribution towards payment of the bankrupt's debts.
(2) The...
- Section 151 - Onus of proof if bankrupt defaults in making payment
If a bankrupt fails to make a payment required under section 150, the onus is on the bankrupt in any proceedings arising out of the failure to show that the failure was not deliberate.
- Section 152 - Prohibition of bankrupt entering business
(1) An undischarged bankrupt shall not, without the consent of the bankruptcy trustee or the Court
(either directly or indirectly)—
(a) enter into, carry on, or take part in the management or...