Islamic Financial Services Act 2013 · s 107

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s 107Additional provisions relating to order under subparagraph 106(2)(a)(v)

(1)

After considering the representation made by the defaulting person under section 273 and where the Bank confirms an order made under subparagraph 106(2)(a)(v), the Bank may dispose of the shares surrendered to it pursuant to the order made under that subparagraph to such persons and to such extent as shall be consistent with the same being held lawfully by the person who acquires the shares under this

Act.

(2)

The proceeds of the disposal of the shares under subsection (1)

shall be paid into the High Court, and any person claiming to be beneficially entitled to the whole or any part of such proceeds may, within thirty days of such payment into the High Court, apply to a judge of the High Court in chambers for payment out of the same to him.

Interest in shares of approved person