The trustee in bankruptcy may exercise any of the following powers1:
(1) power to carry on any business of the bankrupt so far as may be necessary for winding it up beneficially and so far as the trustee is able to do so without contravening any requirement imposed by or under any enactment2;
(2) power to bring, institute or defend any action or legal proceedings relating to the property comprised in the bankrupt's estate3;
(3) power to bring legal proceedings in relation to transactions at an undervalue4, preferences5 and transactions defrauding creditors6;
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