Unpaid dividend transfer obligation clarified: no mandatory transfer or six month compliance duty for pre existing unpaid dividends. The interpretation declares that at the Act's commencement there was no option to transfer pre existing unpaid dividends into the unpaid dividend account and no statutory obligation to comply within the referenced six month period; consequently the company did not acquire a mandated transfer duty or a withholding obligation toward claimants solely by that timeframe.
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.
Unpaid dividend transfer obligation clarified: no mandatory transfer or six month compliance duty for pre existing unpaid dividends.
The interpretation declares that at the Act's commencement there was no option to transfer pre existing unpaid dividends into the unpaid dividend account and no statutory obligation to comply within the referenced six month period; consequently the company did not acquire a mandated transfer duty or a withholding obligation toward claimants solely by that timeframe.
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