Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) A liquidator must:
(a) unless otherwise directed by the Court or the committee of inspection -- open a bank account to be known as the liquidator's general account; and
(b) pay into that account all money received by the liquidator not later than 7 days after it has been received.
(2) However, if the liquidator is the liquidator of a pooled group:
(a) subregulation (1) does not require the liquidator to open a separate account for each company in the group; and
(b) the liquidator may open a single bank account (to be known as the liquidator's general account ) in relation to the group and pay into the account all money received by the liquidator in relation to the liquidation of the companies in the group.