6Calculation and payment of refunds

6 Calculation and payment of refunds

6 Calculation and payment of refunds

(1) In this section:

prescribed amount means the amount that is the difference between:

(a) the amount that, on the prescribed day, is in the hands of or under the control of the Trustees and the Company, and

(b) the amount that, on the prescribed day, the Trustees consider to be required for administering and winding up the affairs of the Trustees and the Company.

prescribed day means such day as the Trustees decide shall be the prescribed day, being a day not earlier than the day on which the latest of the periods specified under paragraph (b) of section four of this Act expires.

prescribed total means the amount that in the opinion of the Trustees is or is as near as practicable to the total amount of donations.

(2) Subject to subsection three of this section, the Trustees may refund, to each person whose claim has been approved under this Act, the amount (to the next cent if a fraction of a cent would otherwise be payable) that bears to the amount of his donation the same proportion as the prescribed amount bears to the prescribed total.

(3) The Trustees shall not:

(a) refund an amount that would otherwise be payable under subsection two of this section if that amount is less than one dollar, or

(b) refund to any person an amount that exceeds the amount of his donation.

(4) Where:

(a) a claim has been approved under this Act,

(b) in respect of that claim an amount is payable to a person under the foregoing provisions of this section, and

(c) the Trustees are unable to pay that amount to that person for any reason,

the Trustees may pay that amount to the Treasurer to be placed to the credit of the Consolidated Revenue Fund.

(5) The Trustees, when paying any amount to the Treasurer under subsection four of this section, shall furnish to the Treasurer such particulars with respect to that amount as the Treasurer requires.

(6) The Treasurer may pay any amount paid to him under subsection four of this section to the person who appears to him to be entitled thereto.