3.—(1) There is hereby constituted jointly for the Territories an authority which shall be known as the Liquidating Agency.
(2) The Liquidating Agency shall consist of three members, namely the persons for the time being holding or acting in the office of Secretary to the Treasury of Southern Rhodesia, Permanent Secretary to the Ministry of Finance of Northern Rhodesia, and Secretary to the Treasury of Nyasaland, or any office which may be substituted therefor.
(3) A person referred to in subsection (2) may act through a deputy appointed by him.