Division 2 — Keeping of liquidator’s books and accounts
Books to be kept by liquidator
41.—(1)  The liquidator must —
(a)keep a book (whether in physical or electronic form) to be called the Cash Book, in which the liquidator must enter from day to day the receipts and payments made by the liquidator; and
(b)keep any other books as may be directed by the committee of inspection or, if there is no committee of inspection, by the creditors.
(2)  The liquidator must submit all the books kept by the liquidator to the committee of inspection or, if there is no committee of inspection, to the creditors, together with any other books, documents, papers and accounts in the liquidator’s possession relating to his or her office as liquidator of the company as and when the committee of inspection or the creditors (as the case may be) direct.
Liquidator carrying on business
42.  Where the liquidator carries on the business of the company, the liquidator must —
(a)keep a distinct account of the trading (called in these Regulations the trading account); and
(b)incorporate in the Cash Book the total weekly amount of the receipts and payments on the trading account.
Liquidator’s trading account
43.—(1)  The liquidator must from time to time as required by the committee of inspection (if any) or the creditors —
(a)verify by statutory declaration the trading account; and
(b)submit the verified trading account in accordance with Form VWU‑20 —
(i)where a committee of inspection is appointed — to the committee of inspection or a member of the committee as may be appointed by the committee for that purpose; or
(ii)where no committee of inspection is appointed — to a person nominated by the creditors.
(2)  The committee of inspection or member of the committee mentioned in paragraph (1)(b)(i) or the person nominated under paragraph (1)(b)(ii) (as the case may be) must examine and certify the trading account submitted by the liquidator.
Expenses of sales
44.  Where the liquidator sells any property forming part of a company’s assets through an auctioneer or other agent, the gross proceeds of the sale must be paid over by the auctioneer or agent to the liquidator, and the charges and expenses connected with the sale must afterwards be paid to the auctioneer or agent.