(1)Where any company is being wound up and the liquidator has in his hands or under his control any money representing—(a)dividends payable to any creditor but which had remained unpaid for six months after the date on which they were declared; or(b)assets refundable to any contributory which have remained undistributed for six months after the date on which they become refundable,the liquidator shall forthwith deposit the said money into a separate special account to be known as the Company Liquidation Dividend and Undistributed Assets Account maintained in a scheduled bank.
