CORPORATIONS REGULATIONS 1990 (REPEALED)

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.6 - WINDING UP GENERALLY  

REGULATION 5.6.09   SPECIAL BANK ACCOUNT  

5.6.09(1)    
The Court may give directions regarding the payment, deposit or custody of:

(a) money; and

(b) bills, notes or other securities;

that are payable to, or into the possession of, a liquidator.

5.6.09(2)    
If an application is made to the Court to authorise the liquidator to make payments into and out of a special bank account, the Court may:

(a) authorise the payments for the time and on the terms as it thinks fit; and

(b) if the Court thinks that the account is no longer required - at any time order it to be closed.

5.6.09(3)    
An office copy of an order under subregulation (2) must be served by the liquidator on the bank with which the special bank account has been opened.