Section 158: Payment into bank by liquidator
consolidated text (as at 2017, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
158. Payment into bank by liquidator
(1) Subject to any order which the Court may make, every liquidator shall
pay all money received by him into a bank account.
(2) Where a liquidator retains for more than 10 days a sum exceeding
20,000 rupees, or such other amount as the Court in any particular case
authorises him to retain, he shall, unless he explains the retention to the satisfaction of the Court, pay interest on the amount so retained in excess with
effect from the day following the expiry of the 10 days until he has complied
with subsection (1), at the prevailing Repo rate determined by the Bank of
Mauritius and be liable—
(a) to disallowance of all or such part of his remuneration as the
Court may determine;
(b) to be removed from his office by the Court; and
(c) to pay any expenses occasioned by reason of his default.
(3) A liquidator shall not pay any sum derived by him as liquidator into
his private bank account.
[S. 158 amended by s. 24 (b) of Act 27 of 2013 w.e.f. 21 December 2013.]