Nov. 20.] THE NEW ZEALAND GAZETTE. 3657

147. (1) In a winding-up by the Court the Official Assignee, until a cash-book.
     liquidator is 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 Audit Office may from time to time direct) 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 Assignee 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.

INVESTMENT OF FUNDS.

148. (1) In any winding-up all or any part of the cash balance standing to the credit of the company in any bank account kept by the liquidator, and not required for the time being to answer demands in respect of the company’s estate, may, with the consent of the Audit Office, be invested in the purchase of specified Government securities, or placed on fixed deposit in a specified bank.

(2) The consent of the Audit Office under this rule shall be given only upon a certificate and request in form No. 74 signed by the liquidator and also by the committee of inspection (if any), and may be given upon and subject to such terms and conditions as the Audit Office thinks fit.

(3) All dividends, interest, and other profits from investments under this rule shall from time to time as received be paid into a bank account kept by the liquidator to the credit of the company.

ACCOUNTS AND AUDIT IN A WINDING-UP BY THE COURT.

149. The committee of inspection shall not less than once every three months audit the liquidator’s cash-book and certify therein under their hands the day on which the said book was audited.

150. (1) Where the liquidator carries on the business of the company, he shall keep a distinct account of the trading, and shall incorporate in the cash-book the total weekly amounts of the receipts and payments on such trading account.

(2) The trading cash account shall from time to time and not less than once in every month, be verified by affidavit, and the liquidator shall thereupon submit such account to the committee of inspection (if any), or such member thereof as may be appointed by the committee for that purpose, who shall examine and certify the same.

151. (1) The liquidator shall transmit to the Audit Office with his accounts a summary of such accounts in such form as the Audit Office may from time to time direct, and on the approval of such summary by the Audit Office, shall forthwith obtain, prepare, and transmit to the Audit Office so many copies thereof, duly stamped for transmission by post, and addressed to the creditors and contributories, as may be required for transmitting such summary to each creditor and contributory.

(2) The cost of preparing and posting such copies shall be a charge upon the assets of the company.

152. Where a liquidator has not since the date of his appointment or since the last audit of his accounts, as the case may be, received or paid any sum of money on account of the assets of the company, he shall, at the time when he is required to transmit his accounts to the Audit Office, forward to the Audit Office an affidavit of no receipts or payments.

153. Upon a liquidator resigning or being released or removed from his office, he shall deliver over to the Official Assignee, or, as the case may be, to the new liquidator, all books kept by him, and all other books, documents, papers, and accounts in his possession relating to the office of liquidator. The release of a liquidator shall not take effect unless and until he has delivered over to the Official Assignee, or, as the case may be, to the new liquidator, all the books, papers, documents, and accounts which he is by this rule required to deliver on his release.