Section 10 Dissolution of transferor companies

A transferor company shall by virtue of this Act be dissolved on the day on which, in pursuance of a request made by or on behalf of Lloyds at any time after the whole of that company’s undertaking has been transferred to and vested in Lloyds by virtue of this Act or otherwise, the registrar of companies strikes that transferor company off the register.

Notwithstanding section 654 of the 1985 c. 6.Companies Act 1985 (property of a dissolved company), on the day on which a transferor company is struck off the register under subsection (1) above all seals and documents of or relating to the company not transferred to and vested in Lloyds by virtue of the foregoing provisions of this Act shall, by virtue of this section, be transferred to, and vest, in Lloyds and, where so required to be kept at a place in England, shall be kept by Lloyds at such a place.