“Companies Liquidation Account” defined

(1) An account, called the Companies Liquidation Account, shall be kept by the Official Receiver at the Belize City Branch of the Royal Bank of Canada or at such other bank as may be approved by the Minister, and all moneys received by the Official Receiver in respect of proceedings under this Act in connection with the winding-up of companies shall be paid to that account. (2) All payments out of money standing to the credit of the Official Receiver in the Companies Liquidation Account shall be made by the said bank in the prescribed manner.