Section 125 of Insolvency Act CAP 53: 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 company;
(b) securities of the Government of Kenya;
(c) securities issued by a local authority;
(d) shares in ships;
(e) any other property transferable in the records of a company, office or person.
(2) A person whose act or consent is necessary for the transfer of the property shall, on being requested to do so by the bankruptcy trustee, do whatever is necessary for the transfer to be completed.
(3) If the bankruptcy trustee proposes to transfer shares of a company, a shareholder—
(a) to whom the shares are required to be offered for sale in accordance with the company's constitution; and
(b) who agrees to purchase them, shall pay a fair price for the shares, whether or not that constitution provides a procedure for fixing the price.
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- Section 142 - Bankrupt to deliver property to bankruptcy trustee on demand
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(1) If—
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(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...
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(2) The warrant may...
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- Section 159 - Responsibility of bank to notify bankruptcy trustee of bankrupt's account
(1) As soon as practicable after becoming aware or formings reasonable suspicion that a customer is an undischarged bankrupt, a bank shall—
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- Section 160 - Official Receiver entitled to require bank to search records relating to bankrupt's account
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(2) The...
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