Rule 84 - Company Liquidator's Dividend Account

Company liquidators must open a dividend account and pay declared dividends from it via cheques or electronic clearing.

A company liquidator must open a separate dividend account in a scheduled bank, styled as the Dividend Account of the company in liquidation, and upon declaration of a dividend deposit the full declared amount into that account by transfer from the special bank account; a separate account is required for each declaration, all dividend payments must be made from that account by cheque or Electronic Clearing System, and any unpaid balance must be transferred to the Company Liquidation Dividend and Undistributed Assets Account under subsection (1) of section 352.