The Insolvency Regulations 1994

Payment of disbursements etc. out of the Insolvency Services Account

7.—(1) In the case of a winding up by the court, on application to the Department, the liquidator shall be repaid all necessary disbursements made by him, and expenses properly incurred by him, in the course of his administration to the date of his vacation of office out of any money standing to the credit of the company in the Insolvency Services Account.

(2) In the case of a winding up by the court, the liquidator shall on application to the Department obtain payment instruments to the order of the payee for sums which become payable on account of the company for delivery by the liquidator to the persons to whom the payments are to be made.

(3) In the case of a voluntary winding up, where the liquidator requires to make payments out of any money standing to the credit of the company in the Insolvency Services Account in respect of the expenses of the winding up, he shall apply to the Secretary of State who may either authorise payment to the liquidator of the sum required by him, or may direct payment instruments to be issued to the liquidator for delivery by him to the persons to whom the payments are to be made.

(4) Any application under this regulation shall be made by the liquidator on a form obtainable from the Department for the purpose or on a form that is substantially similar.

(5) In the case of a winding up by the court, on the liquidator vacating office, he shall be repaid by any succeeding liquidator out of any funds available for the purpose any necessary disbursements made by him and any expenses properly incurred by him but not repaid before he vacates office.