PAYMENT OF UNCLAIMED DIVIDENDS OR UNDISTRIBUTED ASSETS INTO THE COMPANY LIQUIDATION DIVIDEND AND UNDISTRIBUTED ASSETS ACCOUNT IN A WINDING UP (From Rule 179 to Rule 182)
Company winding-up property must be surrendered to liquidator on notice; noncompliance allows tribunal application for orders. Any contributory listed as such, trustee, receiver, banker, agent, officer or other employee who holds money, property or books and papers in custody or under control to which the company is or appears to be entitled must, on notice from the Company Liquidator and within the time specified, pay, deliver, convey, surrender or transfer those items to the Company Liquidator; where the person fails to comply the Company Liquidator may apply to the Tribunal for appropriate orders. The notice is in Form WIN 51.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Company winding-up property must be surrendered to liquidator on notice; noncompliance allows tribunal application for orders.
Any contributory listed as such, trustee, receiver, banker, agent, officer or other employee who holds money, property or books and papers in custody or under control to which the company is or appears to be entitled must, on notice from the Company Liquidator and within the time specified, pay, deliver, convey, surrender or transfer those items to the Company Liquidator; where the person fails to comply the Company Liquidator may apply to the Tribunal for appropriate orders. The notice is in Form WIN 51.
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