Regulation 148

In a winding up by the Court, if the committee of inspection satisfies the Court that for the purpose of carrying on the business of the LLP or of obtaining advances, or for any other reason, it is to the advantage of the creditors or partners that the liquidator should have an account with any other bank, the Court shall, on the application of the committee of inspection, authorise the liquidator to make his payments into such other bank as the committee may select instead of to the Limited Liability Partnerships Liquidation Account, and thereupon those payments shall be made in the prescribed manner.

The Court may grant such authorisation as is referred to in paragraph (1) for such time and on such terms as it may think fit, and may at any time order the account to be closed if it is of the opinion that the account is no longer required for the purposes mentioned in the application.