Clause 28

Whenever the cash balance standing to the credit of the Bankruptcy Estates Account is in excess of the amount which, in the opinion of the Official Assignee, is required for the time being to meet demands in respect of insolvent estates, the Official Assignee shall notify the excess to the Accountant-General, and shall pay over the whole or any part of the excess as the Accountant-General may require to such account as the Accountant-General may direct, and the Accountant-General may invest the sums paid over or any part thereof in trustee securities to be placed to the credit of the said account.

Where any part of the money invested under subsection (1) is, in the opinion of the Official Assignee, required to meet any demand in respect of insolvent estates, the Official Assignee shall notify the Accountant-General the amount so required and the Accountant-General shall thereupon repay the Official Assignee such sum as may be required to the credit of the Bankruptcy Estates Account and for that purpose the Accountant-General may direct the sale of such part of the securities as may be necessary.

The income derived from any investment under subsection (1) shall form part of the Consolidated Fund and regard shall be had to the amount thus derived in fixing the fees payable in respect of proceedings in bankruptcy.

Any profits on the sale of any of the securities placed to the credit of the Bankruptcy Estates Account shall be credited to the Consolidated Fund and that Fund shall be liable to make good any loss arising out of the sale of those securities.