1546. Adjudication of Bankruptcy when a Composition is not accepted
If after a receiving order has been made the creditors resolve that the debtor be adjudged bankrupt, or pass no resolution, or do not meet, or if a composition or scheme is not accepted and approved within fourteen days after the debtor's public examination, the Court will adjudge the debtor bankrupt, and his property shall become divisible among his creditors, and shall vest in a Trustee. Notice of such adjudication must be advertised in the _London Gazette_ and locally.
1547. Appointment of Trustee
The creditors of a bankrupt may, by resolution, appoint a Trustee of the debtor's property. If this has not been done prior to adjudication, the Official Receiver shall call a creditors' meeting for that purpose. The creditors may resolve to leave the appointment to the committee of inspection. The person appointed shall give security to the Board of Trade, which shall, if it sees fit, certify the appointment. If no Trustee is appointed by the creditors, the Board may appoint one.
1548. Committee of Inspection
A committee of inspection must not exceed five, nor be less than three, in number, and must be creditors qualified to vote, or their authorised representatives.
1549. Bankrupt's Responsibilities