Section 120, The Bankruptcy Act, 2009

(1) Where the trustee, under any bankruptcy, compositionor scheme, pursuant to this Act has under his control any unclaimed dividend which has remained unclaimed for more than six months or where, after making a final dividend, he has on his hands or under his control any unclaimed or undistributed money arising from the property of the debtor, he shall forthwith pay it to the Registrar who shall pay it to an account to be termed “the Bankruptcy Estate Account”. Certificate of appointment Service of notice. Formal defect not to invalidate proceedings. Exemption of deeds etc. from stamp duty. Certain provisions to bind the State. 72 73 Statements made to receiver or trustee through interpreter. Death of debtor or witness. Actions of corporations, partners, etc. Unclaimed and undistributed dividends or funds. (2) The Registrar’s receipt for the money so paid shall be a sufficient discharge to the trustee in respect of the bankruptcy, composition or scheme. (3) 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 requisition of the court may be dealt with as contempt of court. (4) Any person claiming to be entitled to any moneys paid into the Bankruptcy Estates Account may, within five years of the date when it is so paid in, apply to the Registrar for payment to him of the moneys, and the Registrar, if satisfied that the person claiming is entitled, shall make an order for the payment to the person of the sum due. (5) Any person dissatisfied with the decision of the Registrar may appeal to the court. (6) After any money has remained unclaimed in the Bankruptcy Estates Account for a period of five years, it shall be paid into the Consolidated Fund. PART VIII–DISQUALIFICATION OF BANKRUPT