473. Power to disclaim onerous property.

(viii)     Disclaimer of Onerous Property

473.     Power to disclaim onerous property.

By the giving of the prescribed notice1, the trustee may disclaim any onerous property2 and may do so notwithstanding that he has taken possession of it, endeavoured to sell it or otherwise exercised his rights of ownership in relation to it3. Such power is exercisable at any time during the trustee's administration of the bankrupt's estate4.