608

Bank
account

Forms 70
and 77

Record

Book.

ash Hook,

Ch. 31. No. 1.] Companies.

Payments into and out of a bank.

150. (1) A Liquidator in a winding up by the Court shall forthwith
pay all moneys received by him into such bank as the Court may direct
to an account to the credit of such Liquidator of the company. All
payments out shall be made by cheque payable to order, and every cheque
shall have marked or written on the face of it the name of the company,
and shall be signed by the Liquidator, and shall be countersigned by at
least one member of the Committee of Inspection, and by such other
person, if any, as the Committee of Inspection may appoint.

(2) Where application is made to the Court to authorise the
Liquidator in a winding up by the Court to make his payments into and
out of a bank account, the Court may grant such authorisation for such
time and on such terms as it may think fit, and may at any time order
the account to be closed if it is of opinion that the account is no longer
required for the purposes mentioned in the application.

Books.

151. In| winding up by the Court the Official Receiver, until
Liquidator is appointed by the Court; and thereafter the Liquidator,
shall keep a book to be called the “‘ Record Book ” in which he shall
record all minutes, all proceedings had and resolutions passed at any
meeting of creditors or contributories, or of the Committee of Inspection,
and all such matters as may be necessary to give a correct view of his
administration of the company’s affairs; but he shall not be bound to
insert in the “ Record Book ” any document of a confidential nature
(such as the opinion of counsel on any matter affecting the interest of
the creditors or contributories), nor need he exhibit such document to
any person other than a member of the Committee of Inspection or the
Official Receiver.

152. (1) In a winding up by the Court the Official Receiver, until a
Liquidator is appointed by the Court, and thereafter the Liquidator,
shall keep a book to be called the “ Cash Book ” in which he shall (subject
to the provisions of the rules as to trading accounts) enter from day to
day the receipts and payments made by him.

2) In a winding up by the Court a Liquidator other than the
Official Receiver shall submit the Record Book and Cash Book, together
with any other requisite books and vouchers, to the Committee of
Inspection (if any) when required, and not less than once every three
months.

(3) In a creditors voluntary winding up the Liquidator shall keep
such books as the Committee of Inspection or if there is no such Committee
as the creditors direct and all books kept by the Liquidator shall be
submitted to the Committee of Inspection or if there is no such Committee
to the creditors with any other books documents papers and accounts
in his possession relating to his office as Liquidator or to the company
as and when the Committee of Inspection or if there is no such Committee
the creditors direct.