Handling of money and securities—Court directions
65-45 Handling of money and securities—Court directions
The Court may, on application, give directions regarding the payment, deposit or custody of:
money; and
bills of exchange, promissory notes and other negotiable instruments and securities;
that are payable to, or held by, the trustee of a regulated debtor’s estate.
The Court may, on application, give directions authorising the trustee of a regulated debtor’s estate to make payments into and out of a special bank account.
Without limiting subsection (2), the Court may:
authorise the payments for the time and on the terms it thinks fit; and
if the Court thinks the account is no longer required—at any time order it to be closed.
A copy of an order under paragraph (3)(b) must be served by the trustee on the bank with which the special bank account was opened.
An application under this section may be made by a person with a financial interest in the administration of the regulated debtor’s estate.
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