Regulation 13 Cessation of business etc.
Where the depositor has ceased to carry on in the United Kingdom the business in respect of which the deposit was made or has ceased to be a company to which section 9 of the Act applies, then, except in a case where paragraph (2) below applies, the depositor or any other person who is entitled to give a good discharge for the funds representing the deposit may apply to the Secretary of State for those funds to be released to the depositor or to that other person, as the case may be.
In the event of the depositor becoming bankrupt, the amount of the deposit shall be paid to the trustee or assignees in bankruptcy; and if, in a case where the depositor is a corporation, the corporation is ordered to be wound up by or under the supervision of the court, the amount of the deposit shall be repaid to the corporation.
The Secretary of State, on receipt of an application under paragraph (1) above accompanied by the appropriate declaration, may in relation to any cash or securities constituting the deposit or part of the deposit direct the Accountant General that—
the cash shall be paid to the applicant, or
the securities shall be realised and the net proceeds shall be paid to the applicant, or
the securities shall be transferred to the applicant.
In paragraph (3) above “the appropriate declaration” means a statutory declaration by the applicant—
declaring that the applicant knows of no other person who has made or is entitled to make any claim to or on the relevant funds, and
if the applicant is not the depositor—
declaring that the applicant is entitled to give a good discharge for the relevant funds, and
stating the circumstances in which the applicant is so entitled.