"liquidator" includes a provisional liquidator.

(1) The regulations may:

(a)

require a liquidator to pay, into such bank and account, in such manner and at such times as are prescribed, money received by him or her; and

(b)

prescribe the circumstances and manner in which money paid into such an account is to be paid out; and

(c)

require a liquidator of a company to deposit, in such bank, in such manner and at such times as are prescribed, bills, notes or other securities payable to the company or its liquidator; and

(d)

prescribe the circumstances and manner in which bills, notes or other securities so deposited are to be delivered out; and

(e)

make provision in relation to the giving by the Court of directions with respect to the payment, deposit or custody of money payable to or into the possession of a liquidator, or of bills, notes or other securities so payable; and

(f)

provide for:

(i)

the payment by a liquidator of interest at such rate, on such amount and in respect of such period as is prescribed; and

(ii)

disallowance of all or of such part as is prescribed of the remuneration of a liquidator; and

(iii)

the removal from office of a liquidator by the Court; and

(iv)

the payment by a liquidator of any expenses occasioned by reason of his or her default;

where a liquidator contravenes or fails to comply with regulations made under this section.

(2) Regulations made under this section may apply generally or in relation to a specified class of windings up.