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Section 614 of The Companies Act No. 17 of 2015: Further provision about consideration held on trust under section 613

    

(1) If an offeror pays or transfers consideration to the company under section613(6), the company shall pay into a separate bank account that complies with subsection (2)—
(a) any money it receives under section 613(6)(b); and
(b) any dividend or other amount accruing from any other consideration it receives under that paragraph.
(2) A bank account complies with this subsection if the balance on the account
—
(a) bears interest at an appropriate rate; and
(b) can be withdrawn by such notice (if any) as is appropriate.
(3) If—
(a) the person entitled to the consideration held on trust under section
613(10) cannot be found; and
(b) subsection (4) applies, the company shall pay the consideration, together with any interest, dividend or other benefit that has accrued from the consideration, into Court.
(4) This subsection applies if—
(a) reasonable enquiries have been made at reasonable intervals to find the person; and (b) either—
(i) twelve years has elapsed since the consideration was received; or
(ii) the company has been liquidated, whichever first occurs.
(5) If the person entitled to the consideration held on trust under section 613(10) cannot be found and subsection (4) applies, the following provisions have effect— (a) the trust is ended;
(b) the company or, if the company has been liquidated, the liquidator shall sell any consideration other than cash and any benefit other than cash that has accrued from the consideration;
(c) the company or, if the company has been liquidated, the liquidator shall deposit in the name of the registrar of the Court in a separate bank account that complies with subsection (2) an amount representing—
(i) the consideration so far as it is cash;
(ii) the proceeds of any sale under paragraph (b); and
(iii) any interest, dividend or other benefit that has accrued from the consideration, and shall lodge the receipt for the deposit with the Registrar.
(6) The expenses of the enquiries referred to in subsection (4) may be paid out of the money or other property held on trust for the person to whom the enquiry relates.

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Disclaimer: This document is not to be taken as legal advise.

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