Section 163: Investment of surplus funds
consolidated text (as at 2017, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
163. Investment of surplus funds
(1) Where the cash balance standing to the credit of a company which is
being wound up exceeds the amount which, in the opinion of the committee
of inspection or, if there is no committee, of the liquidator, is required for the
time being to answer demands in respect of the estate of the company, the
liquidator may, subject to any written direction of the committee of inspection, if any, and unless the Court on application by a creditor otherwise directs, invest the sum in Government securities or place it on deposit at interest
with a bank, and any interest received in that respect shall form part of the
assets of the company.
continued on page I14 – 97
I14 – 96 (1) [Issue 9]
Revised Laws of Mauritius
(2) Where any money so invested, in the opinion of the committee of inspection, or, if there is no committee of inspection, in the opinion of the liquidator, is required to answer any demands in respect of the company’s estate, the committee of inspection may direct, or, if there is no committee of
inspection, the liquidator may arrange for the sale or realisation of that part
of the securities as is necessary.