| Commentary

248 Vesting of undistributed assets

| Commentary

248 Vesting of undistributed assets

On dissolution, any undistributed assets vest in the Crown as bona vacantia, subject to the possible restoration of the company to the register under Sections 1024 to 1034 of the Companies Act 20061.

Where any property so vests in the Crown, it may be disclaimed by notice signed by the Treasury Solicitor2. To be effective, any such disclaimer must be executed within 3 years after the vesting of the property came to the notice of the Treasury Solicitor, or, if an application in writing is made to him by any person interested in the property requiring

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to LexisLibrary or register for a free trial