Commentary on Sections Ingathering
37.Section 16 places judicial factors under a duty to ingather the factory estate, meaning the judicial factor must collect and take possession of all of the property which forms part of the estate. Subsection (2) gives the judicial factor the power to take steps to have the title to such property transferred to the judicial factor – this might include, for example, the registration of a notice of title in the Land Register. Subsection (3) places the judicial factor under an obligation to notify creditors and debtors of the estate of their appointment as judicial factor, and to ensure that in relation to financial assets it is apparent to persons viewing those assets that they are held by the judicial factor in that capacity, to ensure that the assets of a judicial factory do not get mixed up with the personal or business assets of the judicial factor, or of another factory if the factor is appointed to more than one estate. For example, the judicial factor keeping the funds of the factory estate in their personal bank account would be in breach of this provision.