Companies. {Ch. 31. No. 1.

 

(3) A liquidator of a company which is being wound
up by the Court shall not pay any sums received by him as
liquidator into his private banking account.

186. (1) Every liquidator of a company which is being
wound up by the Court shall, at such times as may be
prescribed but not Icss than twice in cach year during his
tenure of office, send to the Official Receiver an account of
his receipts and payments as liquidator.

(2) The account shall be in a prescribed form, shall
be made in duplicate, and shall be veritied by an affidavit
or a statutory declaration in the prescribed form.

(3) The Official Receiver shall cause the account to be
audited and for the purpose of the audit the liquidator shall
furnish the Official Receiver with such vouchers and
information as the Official Receiver may require, and the
Official Receiver may at any time require the production
of and inspect any books or accounts kept by the liquidator,

(4) When the account has been audited, one copy
thereof shall be filed and kept by the Official Receiver, and
the other copy shall be delivered to the Court for filing, and
each copy shall be open to the inspection of any creditor
or of any person interested.

(5) The Official Receiver shall cause the account
when audited or a summary thereof to be printed, and shall
send a printed copy of the account or summary by post
to every creditor and contributory.

187. (1) The Official Receiver shall take cognisance of
the conduct of liquidators of companies which are being
wound up by the Court, and, if a liquidator does not
faithfully perform his duties and duly observe all the
requirements imposed on him by statute, rules, or otherwise
with respect to the performance of his duties, or if any
complaint is made to the Official Receiver by any creditor or
contributory in regard thereto, the Official Receiver shall
inquire into the matter, and take such action thereon as
he may think expedient.

(2) The Official Receiver may at any time require
any liquidator of a company which is being wound up by the

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Audit of
lquidator's
accounts,

Control of
Official
Receiver
over
liquidators.