Paragraph 5 Amendment of regulation 5

For paragraph (2) of regulation 5 there shall be substituted the following paragraph—

“(2)

Every payment of money into the Insolvency Account under paragraph (1) shall be—

(a)

sent direct to the bank where the Insolvency Account is kept by cheque drawn in favour of the “Insolvency Account” and crossed “A/c payee only” or

(b)

made by electronic transfer,

and the liquidator shall on request be given by the Department a receipt for the money so paid.”.