(1) The bankruptcy trustee may do all such things as may be necessary for the purposes of the administration of the estate of the bankrupt.

(2) Without prejudice to the generality of sub-section (1), the bankruptcy trustee may—

1. sell any part of the property of the bankrupt;
2. give receipts for any money received by him;
3. prove, rank, claim and receive dividends in the bankruptcy of any debtor of the bankrupt;
4. exercise any rights of redemption of the bankrupt; and
5. deal with any property to which the bankrupt is beneficially entitled as tenant in tail in the same manner as the bankrupt might have dealt with it.