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Article 5.42 Non payment of dividend

Original text. Later amendments are not shown.

(1)

No action lies against an education administrator for payment of a dividend.

(2)

However, if the education administrator refuses to pay a dividend the court may, if it thinks just, order the education administrator to pay it and also to pay, out of the education administrator’s own money—

(a)

interest on the dividend, at the rate for the time being specified in section 17 of the Judgments Act 1838, from the time when it was withheld; and

(b)

the costs of the proceedings in which the order to pay is made.