Section 497. Payment of moneys due to company into named bank

(1) The Court may order any contributory, purchaser or other person from whom money is due to the company to pay the amount due into the bank named in the order to the account of the liquidator instead of to the liquidator, and any such order may be enforced in the same manner as if it had directed payment to the liquidator.

(2) All moneys and securities paid or delivered into any bank under this Division shall be subject to the order of the Court.