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Bankruptcy (Scotland) Act 1985 (repealed)
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Changes over time for: Section 58
Version Superseded: 01/04/2015
Alternative versions:
- 01/02/1991- Amendment
- 01/04/1993- Amendment
- 01/08/1998
Point in time - 01/04/2015- Amendment
- 30/11/2016- Amendment
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Bankruptcy (Scotland) Act 1985 (repealed), Section 58 is up to date with all changes known to be in force on or before 17 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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58 Unclaimed dividends. S
(1)Any person, producing evidence of his right, may apply to the Accountant in Bankruptcy to receive a dividend deposited under section 57(1)(a) [F1or 58A(3)] of this Act, if the application is made not later than 7 years after the date of such deposit.
(2)If the Accountant in Bankruptcy is satisfied of the applicant’s right to the dividend, he shall authorise the appropriate bank or institution to pay to the applicant the amount of that dividend and of any interest which has accrued thereon.
(3)The Accountant in Bankruptcy shall, at the expiry of 7 years from the date of deposit of any unclaimed dividend or unapplied balance under section 57(1)(a) [F1or 58A(3)] of this Act, hand over the deposit receipt or other voucher relating to such dividend or balance to the Secretary of State, who shall thereupon be entitled to payment of the amount due, principal and interest, from the bank or institution in which the deposit was made.
Textual Amendments
F1Words in s. 58(1)(3) inserted (1.4.1993, subject to savings in arts. 4, 5 of S.I. 1993/438) by 1993 c. 6, s. 11(3), Sch. 1 para.25 (with s. 12(6)); S.I. 1993/438, art.3
Modifications etc. (not altering text)
C1S. 58 applied with modifications by S.I. 1986/1915, Rule 4.68 and by Rule 2.41(2) (as substituted (15.9.2003) by S.I. 2003/2111, Rule 3, {Sch. 1Pt. 1})
C2S. 58 applied with modifications by Insolvency Act 1986 (c. 45, SIF 66), ss. 193(3), 443
C3S. 58 extended with modifications by Companies Act 1985 (c. 6, SIF 27), s. 430(14) (as substituted by Financial Services Act 1986 (c. 60, SIF 69), s. 172, Sch. 12)
C4S. 58 applied (6.4.2007) by Companies Act 2006 (c. 46), ss. 982(8), 1300; S.I. 2007/1093, art. 2(1)(b) (with saving in art. 11(1))
C5S. 58 applied (with modifications) (20.5.2006) by The Takeovers Directive (Interim Implementation) Regulations 2006 (S.I. 2006/1183), reg. 30, Sch. 2 para. 3(15)
C6S. 58 applied (with modifications) (14.11.2011) by The Investment Bank Special Administration (Scotland) Rules 2011 (S. I. 2011/2262), rules 127(2), 132
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