CAP. 32]
[s. 276 cont.]
24 of 1950, Schedule.
Property of dissolved company to be bona vacantia.
19 & 20 Geo. 5,
Companies.
of the persons who subscribed the memorandum, addressed to him at the address mentioned in the memorandum.
(8) If because of the absence of an address of a liquidator or the absence of an address of any subscriber to the memorandum, or for any other reason, the Registrar considers that a notice to be sent under this section is unlikely to come to the knowledge of the addressee, it shall be sufficient compliance with the requirements of this section if in lieu of the sending of such a notice the Registrar shall cause to be inserted in the Gazette in each such case an advertisement to the like effect as such notice.
[277
277. Where a company is dissolved, all property and rights whatsoever vested in or held on trust for the company immediately before its dissolution (including leasehold property but not including property held by the company on trust for any other person) shall, subject and without prejudice to any order which may at any time be made by the court under the two last foregoing sections, be deemed to be bona vacantia and shall accordingly belong to the Crown, and shall vest and may be dealt with in the same manner as other bona vacantia accruing to the Crown.
[278
Companies Liquidation account.
19 & 20 Geo. 5,
c. 23, s. 300.
Central Accounts.
278. (1) An account, to be called the companies liquidation account, shall be kept by the Official Receiver at such bank as the Governor may from time to time direct, 1 of 1949, s. 20, and all moneys received by the Official Receiver in respect of proceedings under this Ordinance in connexion with the winding up of companies shall be paid to that account.
24 of 1950, Schedule.
Investment of surplus funds on general account.
c. 23, s. 301.
(2) All payments out of money standing to the credit of the Official Receiver in the companies liquidation account shall be made in the prescribed manner.
[279
279. (1) Whenever the cash balance standing to the credit of the companies liquidation account is in excess of
19 & 20 Geo. 5,
the amount which in the opinion of the Official Receiver is required for the time being to answer demands in respect of companies' estates, he shall notify the excess to the Accountant General, and shall pay over the whole or any part of that excess, as the Accountant General may require,
180