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Section 55: Bank account and investment

Insolvency Act · PART II: BANKRUPTCY AND ALTERNATIVES

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.

55. Bank account and investment (1) The Official Receiver shall have a bank account and pay into that account all money that he receives in that capacity in such manner as may be prescribed. (2) The Official Receiver may invest money that is not immediately required to be paid out in the administration of an estate in an investment of a type approved by the Minister, and shall credit to that estate the interest or dividends that accrue on the investment.

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