TMI BlogCompany Liquidation Dividend and Undistributed Assets AccountX X X X Extracts X X X X X X X X Extracts X X X X ..... ) dividends payable to any creditor but which had remained unpaid for six months after the date on which they were declared; or (b) assets refundable to any contributory which have remained undistributed for six months after the date on which they become refundable, the liquidator shall forthwith deposit the said money into a separate special account to be known as the Company L ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (4) The liquidator shall be entitled to a receipt from the scheduled bank for any money paid to it under sub-sections (1) and (2), and such receipt shall be an effectual discharge of the Company Liquidator in respect thereof. (5) Where a company is being wound up voluntarily, the Company Liquidator shall, when filing a statement in pursuance of sub-section (1) of section 348, indicate the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in a period of sixty days from the date of receipt of such claim, failing which the Registrar shall make a report to the Regional Director giving reasons of such failure. (7) Any money paid into the Company Liquidation Dividend and Undistributed Assets Account in pursuance of this section, which remains unclaimed thereafter for a period of fifteen years, shall be transferred to the genera ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r this clause; (b) be liable to pay any expenses occasioned by reason of his default; and (c) where the winding up is by the Tribunal, also be liable to have all or such part of his remuneration, as the Tribunal may consider just and proper, to be disallowed, and to be removed from his office by the Tribunal. - - statute, statutory provisions legislation, law, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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