Cap. 6:07 INSOLVENCY No. 7/2018 100 Confirmation of liquidator's accounts When a liquidator's account has been open to inspection as prescribed by this Act and(a) no objection has been lodged; or (b) an objection has been lodged and the account has been amended in accordance with the direction of the Master and has again been open for inspection, if necessary, and no application for relief has been made to the Court in terms of section 99(3); or (c) an objection has been lodged but withdrawn or has not been sustained and the objector has not applied to Court for relief; the Master must confirm the account and his or her confirmation, notwithstanding mistakes in the account, is final save as against a person who may have been permitted by the Court before any dividend has been paid under the account. to reopen it. 101 Distribution of estate and collection of contributions (I) Immediately after the confirmation of a liquidator's account the liquidator must publish notice of the confirmation in the Gazette and must state in that notice that a dividend to creditors, and where applicable, shareholders or other persons, is in the course of payment or that a contribution is in the course of collection from creditors, as the case may be, and that every creditor liable to contribute is required to pay to the liquidator the amount for which he is liable. (2) If any contribution is payable the liquidator must specify fully in that notice the address at which payment of the contribution is to be made and he or she must send a copy of the notice by liquidator's notice to every creditor who is liable to contribute. (3) Immediately after the confirmation of a liquidator's account, but not later than two months after such confirmation, the liquidator must distribute the estate or collect from each creditor who is liable to contribute, the amount for which he or she is liable. 102 Liquidator to produce acquittances for dividends or pay over unpaid dividends to Master (I) The liquidator shall within three months after the confirmation of the account lodge with the Master the receipts for dividends paid to creditors and, if there is a contribution account, the vouchers necessary to complete the account: Provided that a cheque purporting to be drmvn payable to a creditor in respect of a dividend due to him or her and paid by the banker on whom it is drawn, or a statement by a bank that the bank of the creditor has credited or has been instructed to credit the account of the creditor with the amount of the dividend, shall be accepted by the Master in lieu of any such receipt. (2) If any such dividend has at the expiration of a period of two months from the confirmation of the account under which it was payable not been paid to the creditor or other person who is entitled to it, the liquidator must within three months after confirmation of the account pay the dividend over to the Master who must deposit it in the Guardian's Fund on account of the creditor or other person. 103 Surplus to be paid into Guardian's Fund (I) If after the confirmation of a final account there is a surplus in an insolvent estate that is not required for the payment of claims, costs, charges or interest, the liquidator must after the confirmation of that account deal with the surplus in the manner prmided for in this section. 271

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