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The Insolvency Regulations 1994
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Payment
23.—(1) The trustee shall pay every dividend by payment instruments which shall be prepared by the Department on the application of the trustee and transmitted to him for distribution amongst the creditors.
(2) Any application under this regulation for a payment instrument shall be made by the trustee on a form obtainable from the Department for the purpose or on a form which is substantially similar.
(3) The trustee shall enter the total amount of every dividend that he desires to pay under this regulation in the records to be kept under regulation 24 below in one sum.
(4) On the trustee vacating office, he shall send to the Department any valid unclaimed or undelivered payment instruments for dividends after endorsing them with the word “cancelled”.
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