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Part XIVE+W Public Administration (England and Wales)

Modifications etc. (not altering text)

C1Pt. XIV (ss. 399-410) applied (with modifications) (1.12.1994) by S.I. 1994/2421, arts. 8(4)(5)(8)(9), 10(2)(3)(6), Sch. 4 Pt. II, Sch. 7

C2Third Group of Parts (Pts. 12-19) applied to limited liability partnerships (with modifications) (E.W.S.) (6.4.2001) by S.I. 2001/1090, reg. 5, Schs. 3, 4 (as amended (4.3.2004) by S.I. 2004/355, art. 10 and (1.10.2005) by S.I. 2005/1989, reg. 3, Sch. 2 (with reg. 4))

Insolvency Service finance, accounting and investmentE+W

407 Unclaimed dividends and undistributed balances. E+W

(1)The Secretary of State shall from time to time pay into the Consolidated Fund out of the Insolvency Services Account so much of the sums standing to the credit of that Account as represents—

(a)dividends which were declared before such date as the Treasury may from time to time determine and have not been claimed, and

(b)balances ascertained before that date which are too small to be divided among the persons entitled to them.

(2)For the purposes of this section the sums standing to the credit of the Insolvency Services Account are deemed to include any sums paid out of that Account and represented by any sums or securities standing to the credit of the Investment Account.

(3)The Secretary of State may require the National Debt Commissioners to pay out of the Investment Account into the Insolvency Services Account the whole or part of any sum which he is required to pay out of that account under subsection (1); and the Commissioners may direct the sale of such securities standing to the credit of the Investment Account as may be necessary for that purpose.

Modifications etc. (not altering text)

C3S. 407 applied with modifications by S.I. 1986/1999, art. 3, Sch. 1 Pt. II