Companies Act Section 351 — Liquidator not to deposit monies into private banking account
CHAPTER XX WINDING UP
Commercial / Corporate
Summary
The Official Liquidator and the Company Liquidator of a company are both barred from putting any money they receive while acting in that official role into a private banking account. This means any funds collected in their capacity as liquidator must not be mixed with their own personal or private bank accounts.
Official Text
Neither the Official Liquidator nor the Company Liquidator of a company shall deposit any monies received by him in his capacity as such into any private banking account.