396. Establishment of Companies Liquation Account

Liquidation Account, shall be kept by the Registrar with such bank as may from time to time be approved by the

Minister in charge of the subject of Finance.

Companies Liquidation Account is in the opinion of the

Registrar, in excess of the amount required for the time being to meet claims under section 397, the Registrar shall notify the Deputy Secretary to the Treasury of the excess and shall pay to him, to such account as he may direct, the whole or any part of that excess which he may require. The Deputy

Secretary to the Treasury may invest the sums paid to him or any part of them in Government securities, to be held to the credit of the Companies Liquidation Account.

Secretary to the Treasury under subsection (2) is in the opinion of the Registrar, required to meet any claim under section 397, the Registrar shall give notice of that requirement to the Deputy Secretaty to the Treasury who shall repay the amount required to the Registrar to the credit of the

Companies Liquidation Account, and may for that purpose sell any of the securities referred to in subsection (2).