Possession of property by trustee

(1) The trustee shall as soon as may be, take possession of the deeds, books, and documents of the bankrupt, and all other parts of his property capable of manual delivery. (2) The trustee shall, in relation to, and for the purpose of acquiring or retaining possession of the property of the bankrupt, be in the same position as if he were a receiver of the property appointed by the court, and the court may, on his application, enforce such acquisition or retention accordingly. (3) Where any part of the property of the bankrupt consists of stock, shares in ships, shares or any other property transferable in the books of any company, officer or person, the trustee may exercise the right to transfer the property to the same extent as the bankrupt might have exercised it, if he had not become bankrupt. (4) Where any part of the property of the bankrupt consists of things in action, such things shall be deemed to have been duly assigned to the trustee. (5) Any treasurer, or other officer, or any banker, attorney or agent of a bankrupt, shall pay and deliver to the trustee all money and securities in his possession or power, as such officer, banker, attorney or agent which he is not by law entitled to retain as against the bankrupt or the trustee. 50 (6) Such a person who does not pay and deliver all money and securities as aforesaid commits a contempt of court, and may be punished accordingly on the application of the trustee.