Topic: Section 33. Duties of insolvent as to discovery and realization of pro

Duties of insolvent as to discovery and realization of property

(1) Every insolvent shall, unless prevented by sickness or other sufficient cause, attend any meeting of his creditors which the official assignee may require him to attend, and shall submit, to such examination and give such information as the meeting may require.

(2) The insolvent shall—

(a) Give such inventory of his property, such list of his creditors and debtors, and of the debts due to and from them respectively,

(b) Submit to such examination in respect of his property or his creditors,

(c) Wait at such times and places on the official assignee or special manager,

(d) Execute such powers-of-attorney, transfers and instruments, and

(e) Generally do all such acts and things in relation to his property and the distribution of the proceeds amongst his creditors.

As may be required by the official assignee or special manager or may be prescribed or be directed by the Court by any special order or orders made in reference to any particular case, or made on the occasion of any special application by the official assignee or special manager, or any creditor or person interested.

(3) The insolvent shall aid, to the utmost of his power, in the realization of his property and the distribution of the proceeds among his creditors.

(4) If the insolvent wilfully fails to perform the duties imposed upon him by this section, or to deliver up possession to the official assignee of any part of his property, which is divisible amongst his creditors under this Act and which is for the time being in his possession or under his control, he shall, in addition to any other punishment to which he may be subject be, guilty of a contempt of Court, and may be punished accordingly.