Regulation 24 Payment in case of bankruptcy

Where it is shown to the satisfaction of the Director of Savings that a receiving order has been made against any person who is the sole holder of any stock, or that a trustee has been appointed in the bankruptcy of any such person, or that an order for the administration in bankruptcy of the estate of a deceased sole holder has been made, or that, in the case of a company which is the sole holder of any stock, an order has been made that the company shall be wound up, the Director of Savings may, if he thinks fit, on an application made in that behalf by the Official Receiver or trustee, pay to the Official Receiver or the trustee or liquidator, as the case may be, the amount repayable, or any other amount payable, in respect of the stock.