COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 316B Property of dissolved company to be bona vacantia.

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COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 316B

Property of dissolved company to be bona vacantia.

316B.(1) Where any property vests in the Crown under section 316A the Crown's
title thereto under that section may be disclaimed by a notice signed by the
Treasury Solicitor.

(2) Where a notice of disclaimer under this section is executed as respects
any property, that property shall be deemed not to have vested in the Crown
under section 316A, and sub-sections (3), (7) and (8) of section 291 and
section 291A shall apply in relation to the property as if it had been
disclaimed under section 291(1) immediately before the dissolution of
the company.

(3) The right to execute a notice of disclaimer under this section may be
waived by or on behalf of the Crown either expressly or by taking possession
or other act evincing that intention.

(4) A notice of disclaimer under this section shall be of no effect unless it
is executed within twelve months of the date on which the vesting of the
property as aforesaid came to the notice of the Treasury Solicitor, or, if an
application in writing is made to the Treasury Solicitor by any person
interested in the property requiring him to decide whether he will or will not
disclaim, within a period of three months after the receipt of the application
or such further period as may be allowed by the court.

(5) A statement in a notice of disclaimer of any property under this section
that the vesting of the property came to the notice of the Treasury Solicitor
on a specified date or that no such application as aforesaid was received by
him with respect to the property before a specified date shall, until the
contrary is proved, be sufficient evidence of the fact stated.

(6) A notice of disclaimer under this section shall be delivered to
the registrar of companies for registration, and copies thereof shall be
published in the Belfast Gazette and sent to any persons who have given the
Treasury Solicitor notice that they claim to be interested in the property.][

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Northern Irish Legislation

COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 316B