Hong Kong Ordinances

BANKRUPTCY ORDINANCE - SECT 46

Duties of bailiff as to goods taken in execution

(Past version on 01/04/1998).
(Past version on 30/06/1997).

(1) Where any movable property or negotiable instruments or money of a debtor
are taken in execution, and before the receipt or recovery by the judgment
creditor of the full amount of the levy, notice is served on the bailiff that
a bankruptcy order has been made against the debtor, the bailiff shall on
request deliver the movable property, negotiable instruments or money, or any
money received in satisfaction or part satisfaction of the execution, to the
trustee, but the costs of the execution shall be a fist charge on the property
so delivered and the trustee may sell the movable property or negotiable
instruments, or an adequate part thereof, or apply the money, for the purpose
of satisfying the charge. (Amended 76 of 1996 s. 73)

(2) Where, under an execution in respect of a judgment for a sum exceeding
$100, the property of a debtor is sold or money is paid in order to avoid
sale, the bailiff shall deduct his costs of the execution from the proceeds of
sale or the money paid and pay the balance into court, and if within 14 clear
days of such sale or payment as aforesaid a bankruptcy petition is presented
by or against the debtor, the said balance shall remain in court and if the
debtor is adjudged bankrupt the balance shall be paid out to the trustee in
the bankruptcy, who shall be entitled to retain the same as against the
execution creditor, but otherwise it shall be dealt with as if no bankruptcy
petition had been presented.

(3) The rights conferred by this section on the trustee in relation to
executions against any movable property or negotiable instruments or money of
the debtor may be set aside by the court in favour of the creditor to such
extent and subject to such terms as the court may think fit. (Added 47 of 1984
s. 7) (Amended 18 of 2005 s. 14) [cf. 1914 c. 59 s. 41(1) U.K.]