Section 1012 of the Companies Act 2006 provides that when a company is dissolved, all property and rights vested in or held on trust for the company immediately before its dissolution are deemed to be bona vacantia. Updated policy guidance about the operation of this provision was published by the Government last Friday: see here.
Monday, 9 December 2013
UK: Dissolved companies and bona vacantia
Section 1012 of the Companies Act 2006 provides that when a company is dissolved, all property and rights vested in or held on trust for the company immediately before its dissolution are deemed to be bona vacantia. Updated policy guidance about the operation of this provision was published by the Government last Friday: see here.
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