Section 331: Power to order payment into bank
The Companies Act, 2017 · Federal Acts · in_force
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331. Power to order payment into bank.—(1) The Court may order any contributory, purchaser or other person from whom any money is due to the company to pay the same into the account of the official liquidator in a scheduled bank instead of to the official liquidator, and any such order may be enforced in the same manner as if it had directed payment to the official liquidator. (2) Information about the amount deposited shall be sent by the person paying it to the official liquidator within three days of the date of payment.
Effective date: 2017-05-30
Related sections
Section 330: Power of Court to make callsSection 332: Regulation of account with CourtSection 329: Power to order payment of debts by contributorySection 333: Order on contributory conclusive evidenceSection 328: Power to arrest absconding contributorySection 334: Power to exclude creditors not proving in time
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