Amendment status not verified — confirm the current text below against the official source.
Calculation of dwidends. ( 1) In the calculat10n of dividends, the receiver shall retam in his hands sufficient assets to meet- (a) debts provable under this Act and appearing, from the insolvent's statements or otherwise, to be due to persons resident m places so distant that m the ordmary course of communicatiOn they have not had sufficient time to tender their proofs; (b) debts provable under this Act, the subject of claims not yet determined; (c) disputed proofs or claims; and (d) the expenses necessary for the administration of the estate or otherwise. (2) SubJect to the provisions of sub-section (1), all money • in hand shall be distributed as dividends.