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Regulation 9 Section 12(3) cases

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Where, after taking into account the representations made in pursuance of the notice given or published in accordance with regulation 7, the nominee decides—

(a)

not to proceed with his proposal to transfer the balance standing to the credit of the dormant body in such accounts as are mentioned in section 12(2) to any other recognised body in terms of section 12(3) or (4); or

(b)

to transfer that balance to a recognised body (“the second recognised body”) in terms of section 12(3) or (4) which is different from the recognised body (“the first recognised body”) to which he proposed to transfer that balance in that notice,

  • he shall—

    1. (i)

      in either case, notify the first recognised body of his decision and publish notice of his decision in a newspaper circulating throughout Scotland or, if the purposes of the dormant body, so far as known to the nominee, relate to a particular locality, in a local newspaper circulating in that locality; and

    2. (ii)

      in the case mentioned in (b) above, notify the second recognised body of his decision.