Bankruptcy Ordinance

(1)
Where—
(a)
a trustee, other than the Official Receiver, under any bankruptcy;
                    or
(b)
a nominee under any voluntary arrangement,
pursuant to this Ordinance has under his control any unclaimed dividend which
                has remained unclaimed for more than 6 months, or any money held in trust by the
                bankrupt for another person, or where, after making a final dividend, he has in his
                hands or under his control any unclaimed or undistributed money arising from the
                property of the bankrupt, he shall forthwith pay it to the Official Receiver who
                shall carry the same to an account to be termed the Bankruptcy Estate Account. The
                Official Receiver’s receipt for the money so paid shall be a sufficient discharge to
                the trustee in respect thereof.
(Amended
1 of 1976 s. 7
;
47 of 1984 s. 14
;
76 of 1996 ss. 62
& 72)
(1A)
Where the Official Receiver is the trustee under any bankruptcy or the nominee
                under any voluntary arrangement, and, pursuant to this Ordinance has under his
                control any unclaimed dividend which has remained unclaimed for more than 6 months
                or where after making a final dividend, he has in his hands or under his control any
                unclaimed or undistributed money arising from the property of the bankrupt, he shall
                forthwith transfer the same to the Bankruptcy Estates Account.
(Added
1 of 1976 s. 7
. Amended
76 of 1996 ss. 62
& 72)
(2)
The trustee, whether he has obtained his release or not, may be called upon by
                the court to account for any unclaimed funds or dividends and any failure to comply
                with the requisitions of the court in this behalf may be dealt with as a contempt of
                court.
(3)
Any person claiming to be entitled to any moneys paid into the Bankruptcy
                Estate Account under this Ordinance may, within 5 years of the date when the same
                was so paid in, apply to the Official Receiver for payment to him of the same, and
                the Official Receiver, if satisfied that the person claiming is entitled, shall make
                an order for the payment to such person of the sum due. Any person dissatisfied with
                the decision of the Official Receiver may appeal to the court.
(Amended
33 of
                        1939
;
G.N. 840 of 1940
Supp.
Schedule
;
1 of 1976 s. 7
)
(4)
After any money has remained unclaimed in the Bankruptcy Estates Account for a
                period of 5 years the Official Receiver may transfer such money to the general
                revenue of Hong Kong.
(Replaced
1 of 1976 s. 7
)
(5)
Before transferring any money under subsection (4) the Official Receiver may
                give such notice as he thinks necessary to such parties as he may think fit.
(Replaced
1 of 1976 s. 7
)
[cf. 1914 c. 59 s. 153(1) U.K.]