Section 250I

An applicant company must, upon the request of the Official Receiver and within the period specified by the Official Receiver, pay a deposit of the prescribed sum to the Official Receiver, for the purpose of defraying the costs and expenses to be incurred by the Official Receiver in the administration of the simplified winding up programme in relation to the applicant company.

Unless the deposit mentioned in subsection (1) is waived or remitted (in whole or in part), the Official Receiver must not accept the applicant company into the simplified winding up programme if the deposit is not paid by the applicant company within the period specified by the Official Receiver.