The Short Title of this Act shall be “The Bankruptcy Acts Amendment Act 1870.”

For the purposes of this Act and the said Acts the term “Provisional Trustee” shall include any Registrar or Deputy Registrar of the Supreme Court or Clerk of a District Court acting as Provisional Trustee by virtue of his office also any person appointed to act as such under the twenty-second section of the said Act or the eighth section of this Act.

Whenever any Provisional Trustee shall die resign or be removed from or otherwise cease to hold the office of Provisional Trustee all estates properties and rights which may have become vested in such Trustee by virtue of his office shall on his ceasing to be such Trustee and on the notification of the appointment of his successor in the said office of Provisional Trustee in the New Zealand Gazette be transferred to and vested in the person so appointed as such successor with the like powers authorities and discretions as his predecessor in the said office.

In all cases where a Provisional Trustee has before the passing of this Act died resigned or been removed from or ceased to hold the office of Provisional Trustee except in cases where a new Trustee has been elected by creditors all estates properties and rights which shall have become vested in such Trustee by virtue of his office shall from the notification of the appointment of his successor in the said office of Provisional Trustee in the New Zealand Gazette be or be deemed to have been transferred to and vested in the person so appointed as such successor with the like powers authorities and discretions as his predecessor in the said office.

Every outgoing Provisional Trustee and the executors of any deceased Provisional Trustee shall within one week or such other time after the appointment of his successor as the Court shall appoint pay or deliver over to such successor all moneys and properties whatsoever belonging to the respective estates which may have been vested in such outgoing Trustee by virtue of his said office and which may or ought to be in his or their possession or control and shall render full and accurate statements and accounts in writing of all moneys received and paid on account of such estates respectively Provided always that any charges and expenses which any outgoing Trustee shall be entitled to make or charge against any such estate shall be allowed or reimbursed by his successor out of the proceeds of such estates respectively Provided also that nothing herein contained shall in anywise release or discharge any outgoing Trustee or his estate from liability in respect of acts done or suffered by him during his trusteeship or from the summary jurisdiction of the Court with reference to his conduct as such Trustee.