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PART 4E+WAPPLICATION OF PROPERTY ON DISSOLUTION UNDER PART 3

Power of court to make vesting orderE+W

30.—(1) The court may make an order under paragraph (2), on such terms as it thinks fit, on the application of a person who—

(a)claims an interest in the disclaimed property; or

(b)is under a liability in respect of the disclaimed property that is not discharged by the disclaimer.

(2) An order under this paragraph is an order to vest the disclaimed property in, or require its delivery to—

(a)a person entitled to it (or a trustee for such a person); or

(b)a person subject to a liability as is mentioned in paragraph (1)(b) (or a trustee for such a person).

(3) An order under paragraph (2)(b) may only be made where it appears to the court that it would be just to do so for the purpose of compensating the person subject to the liability in respect of the disclaimed property.

(4) On an order being made, the property comprised in it vests in the person named in the order without conveyance, assignment or transfer.