Revised Laws of Saint Lucia (2021)

499.   Outstanding assets of defunct unregistered company

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    (1)   Where an unregistered company, the place of incorporation or origin of which is in a proclaimed State, has been dissolved and there remains in Saint Lucia any outstanding property which was vested in the company or to which it was entitled or over which it had a disposing power at the time it was dissolved, but which was not got in, realised, or otherwise disposed of or dealt with, by the company or its liquidator before the dissolution, the property shall, by the operation of this section be and become vested for all the estate and interest therein legal or equitable of the company or its liquidator at the date the company was dissolved, in such person as is entitled thereto according to the law of the place of incorporation or origin of the company.

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    (2)   Where the place of origin of an unregistered company is Saint Lucia, the provisions of sections 492 and 493 apply with such adaptations as may be necessary in respect of that company.

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    (3)   Where it appears to the Minister that an enactment in force in any Member State of the Caribbean Community contains provisions similar to the provisions of this section, he or she may, by order published in the Gazette, declare that State to be a proclaimed State for the purposes of this section.