### Bankruptcy Ordinance 《破產條例》

52. Dealings with undischarged bankrupt
(1) (Repealed 76 of 1996 s. 37)(2) Where any individual, company or firm has ascertained that a person having a deposit, whether a deposit in respect of capital or not, or a credit balance, with such individual, company or firm is an undischarged bankrupt, then it shall be the duty of such individual, company or firm forthwith to inform the Official Receiver and the trustee in the bankruptcy of the existence of the deposit or credit balance, and such individual, company or firm shall not make any payment out of or in respect of the deposit or credit balance except under an order of the court or in accordance with instructions from the Official Receiver or the trustee in the bankruptcy.
(3) In case of any contravention of the provisions of subsection (2) the individual, or the directors and officers of the company, or the partners and manager of the firm, as the case may be, shall be liable on summary conviction to a fine at level 1 and to imprisonment for 6 months. (Amended E.R. 3 of 2021)
[cf. 1914 c. 59 s. 47 U.K.]

53. Possession of property by trustee
(1) The trustee shall as soon as may be take possession of the deeds, books and documents of the bankrupt and all other parts of his property capable of manual delivery.
(2) The trustee shall, in relation to and for the purpose of acquiring or retaining possession of the property of the bankrupt, be in the same position as if he were a receiver of the property appointed by the court, and the court may on his application enforce such acquisition or retention accordingly.
(3) Where any part of the property of the bankrupt consists of stock, shares in ships, shares, or any other property transferable in the books of any company, office or person, the trustee may exercise the right to transfer the property to the same extent as the bankrupt might have exercised it if he had not become bankrupt.
(4) Where any part of the property of the bankrupt consists of things in action, such things shall be deemed to have been duly assigned to the trustee.
(5) Subject to the provisions of this Ordinance with respect to property acquired by a bankrupt after adjudication, any treasurer or other officer, or any banker, attorney, clerk, servant, comprador, employer or agent, of a bankrupt, shall pay and deliver to the trustee all money and securities in his possession or power, which he is not by law entitled to retain as against the bankrupt or the trustee. If he does not, he shall be guilty of a contempt of court and may be punished accordingly on the application of the trustee.
[cf. 1914 c. 59 s. 48 U.K.]

### Bankruptcy Ordinance 《破產條例》

54. Seizure of property of bankrupt
Any person acting under warrant of the court may seize any part of the property of a bankrupt in the custody or possession of the bankrupt or of any other person, and with a view to such seizure may break open any house, building or room of the bankrupt where the bankrupt is supposed to be, or any building or receptacle of the bankrupt where any of his property is supposed to be; and where the court is satisfied that there is reason to believe that property of a bankrupt is concealed in a house or place not belonging to him, the court may if it thinks fit grant a search warrant to any constable or officer of the court, who may execute it according to its tenor.
(Amended 76 of 1996 s. 38)[cf. 1914 c. 59 s. 49 U.K.]

55. Sale of property out of Hong Kong
Where the bankrupt is possessed of any property out of Hong Kong, the trustee shall require him to join in selling the same for the benefit of the creditors and to sign all necessary authorities, powers, deeds and documents for the purpose, and if and so often as the bankrupt refuses to do so he may be punished for a contempt of court.
(Amended 47 of 1984 s. 16)

58. Vesting and transfer of property
(1) On the making of a bankruptcy order, the property of the bankrupt shall vest in the Official Receiver. (Replaced 18 of 2005 s. 15)
(1A) On the appointment of a person other than the Official Receiver as provisional trustee, the property shall forthwith pass to and vest in the provisional trustee appointed. (Added 18 of 2005 s. 15)
(1B) Save in sections 15(4), 17, 17A, 17B, 42(3), 58(2), 60, 79, 80, 81, 85, 85A, 96(1) and 112A, the provisional trustee shall, unless the context otherwise requires, be regarded as the trustee for the purposes of this Ordinance. (Added 18 of 2005 s. 15)
(2) On the appointment of a trustee the property shall forthwith pass to and vest in the trustee appointed.
(3) The property of the bankrupt shall pass from trustee to trustee, including under that term the Official Receiver when he fills the office of trustee, and shall vest in the trustee for the time being during his continuance in office, without any conveyance, assignment or transfer whatever.
[cf. 1914 c. 59 s. 53 U.K.]

### Bankruptcy Ordinance 《破產條例》

62. Power to allow bankrupt to manage property
The trustee, with the permission of the creditors’ committee, may appoint the bankrupt himself to superintend the management of the property of the bankrupt or of any part thereof, or to carry on the trade (if any) of the bankrupt for the benefit of his creditors, and in any other respect to aid in administering the property, in such manner and on such terms as the trustee may direct.
(Amended 76 of 1996 s. 74)[cf. 1914 c. 59 s. 57 U.K.]

63. Allowance to bankrupt for maintenance or service
The trustee may from time to time, with the permission of the creditors’ committee, make such allowance as he may think just to the bankrupt out of his property for the support of the bankrupt and his family, or in consideration of his services if he is engaged in winding up his estate, but any such allowance may be reduced by the court.
(Amended 76 of 1996 s. 74)[cf. 1914 c. 59 s. 58 U.K.]

64. Right of trustee to inspect goods pawned, etc.
Where any goods of a debtor against whom a bankruptcy order has been made are held by any person by way of pledge, pawn or other security, it shall be lawful for the trustee, after giving notice in writing of his intention to do so, to inspect the goods, and where such notice has been given, such person as aforesaid shall not be entitled to realize his security until he has given the trustee a reasonable opportunity of inspecting the goods and of exercising his right of redemption if he thinks fit to do so.
(Amended 76 of 1996 s. 73; 18 of 2005 s. 18)[cf. 1914 c. 59 s. 59 U.K.]