h the appointment
is open. But the removal is in like manner subject to appeal at the
instance of creditors. If a receiving order is made against a trustee he
thereby vacates office. He may also, with the consent of a general meeting
of creditors, resign, but his resignation does not operate as a release
from his liability to account for his administration.

_Powers and Duties._--The trustee is required to take immediate possession
of the bankrupt's property, including deeds, books and accounts, and has
the powers of a receiver in the High Court for the purpose of enforcing
delivery. After payment of the costs of administration it is his duty to
distribute the estate in dividends as speedily as possible. He may also,
and with the sanction of the committee, or, where there is none, with that
of the Board of Trade, carry on the business so far as is necessary to a
beneficial winding-up, institute or defend legal proceedings, employ a
solicitor to do any business previously sanctioned by the same authority,
compromise debts and claims, raise money on mortgage, sell property on
credit, or divide the estate where practicable among the creditors in its
existing form. He may, without special sanction, but subject to any
directions which may be given by the creditors in general meeting, or
failing them by the committee, sell the property or any part of it for
cash, including business goodwill and book debts, and either by public
auction or private treaty, and generally exercise all the powers which the
bankrupt might before adjudication have exercised in relation to the
property, or which are by the Bankruptcy Act conferred on the trustee.

Where any part of the property is held subject to onerous obligations, such
as the payment of rent, &c., the trustee may disclaim the same, subject in
certain cases to the leave of the court, and the disclaimer operates to
determine all interest in or liability in respect of the property on the
part of the estate. The trustee is required to keep a record book (which is
commenced by the official receiver), containing minutes of the proceedings
in the bankruptcy, and a cash book in the prescribed form, in which all
receipts and payments by him must be entered. All monies received must
forthwith be paid into an account at the Bank of England, entitled the
"Bankruptcy Estates Account," which is under the control of the Board of
Trade, unless where in special circumstances the sanction of that
de