THE HONGKONG GOVERNMENT GAZETTE, FEBRUARY 14, 1913.
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151. If a Receiving Order in Bankruptcy is made against Office of the Liquidator, he shall thereby vacate his office, and for Liquidator the purposes of the application of the Ordinance and Rules vacated by shall be deemed to have been removed.
PAYMENTS INTO AND OUT OF A BANK,
his insol-
veney.
152. All payments out of the Companies Liquidation Payments Account shall be made in such manner as the Colonial out of Bank. Treasurer may from time to time direct.
and 79.
158.-(1.) Where the Liquidator in a winding-up by the Special Bank Court is authorised to have a special bank account, he account: shall forthwith pay all moneys received by him into that Forms 78 account to the credit of the 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 naise 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 Official Receiver to authorise the Liquidator in a winding-up by the Court to make his payments into and out of a special bank account, the Official Receiver may grant such authorisation for such time and on such terms as he may think fit, and may at any time order the account to be closed if he is of opinion that the account is no longer required for the purposes. mentioned in the application.
Books.
154. The Official Receiver, until a Liquidator is appoint- Record Book. ed by the Court, and thereafter the Liquidator, shall keep
a book to be called the "Record Book " in which he shall record all minates, 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 affect- ing the interest of the creditors or contributories), nor need he exhibit such document to any person other than a mem- ber of the Committee of Inspection, or the Official Receiver.
155.-(1.) The Official Receiver, until a Liquidator is Cash Book. appointed by the Court, and thereafter the Liquidator, shall keep a book to be called the "Cash Book "(which shall be in such form as the Official Receiver may from time to time direct) in which he shall (subject to the provisions of the Rule as to trading accounts) enter from day to day the re- ceipts and payments made by him.
(2) The Liquidator 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.
INVESTMENT OF FUNDS.
156-(1.) Where the Committee of Inspection are of Investment opinion that any part of the cash balance standing to the of assets in
securities, credit of the account of the Company should be invested, and realisa- they shall sign a certificate and request, and the Liquidator tion of shall transmit such certificate and request to the Official securities. Receiver.
Forms 80 and 81.
(2.) Where the Committee of Inspection are of opinion that it is advisable to sell any of the securities in which the moneys of the Company's assets are invested they shall sign a certificate and request to that effect, and the Liquidator shall transmit such certificate and request to the Official Receiver.
(3.) Where in a winding-up by the Court in which there is no Committee of Inspection, or in a Voluntary Winding- up or winding-up under the supervision of the Court, a case has in the opinion of the Liquidator arisen under section 218 of the Ordinance for an investment of funds of the Company or a sale of securities in which the Company's funds have been invested, the Liquidator shall sign and
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