Section 122: Lapse and credit to Government of unclaimed dividends. Where the official — Insolvancy (Karachi Division) Act, 1909

Current legal status not independently verified — Source: Pakistan Code (single official PDF, 2026-08-21). Whether this provision is still in force has not been independently verified.

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4122. Lapse and credit to Government of unclaimed dividends. Where the official assignee has under his control any dividend which has remained unclaimed for fifteen years from the date of declaration or such less period as may be prescribed, he shall pay the same to the account and credit of 5[the Provincial Government], unless the Court otherwise directs.

Effective date: 1909-01-01

Related sections

Section 121: [Savings for existing rights of audience.] Omitted by the Federal Laws (Revision and Section 123: Claims to monies credited to Government under section 122. Any person claiming to Section 120: Certain provisions to bind the Government. Save as herein provided, the provisions Section 124: Access to insolvent’s books Section 119: [Application of Trustee Act to insolvency of trustee.] Omitted by the Federal Laws Section 125: Fees and percentages. Such fees and percentages shall be charged for and in respect of

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