32Expiry of Act

32 Expiry of Act

(1) If the Committee is satisfied that all its obligations and liabilities have been discharged: (a) it must tell the Minister in writing that it is so satisfied; and (b) if it holds any surplus funds, it must: (i) prepare a scheme for distributing the funds in an equitable manner to such persons as it thinks appropriate; and (ii) give details of the scheme to the Minister. (2) If the Minister approves a scheme prepared under paragraph (1)(b), the Committee must, as soon as practicable, distribute the surplus funds in accordance with the scheme. (3) If: (a) the Minister, by signed writing, certifies that: (i) all the obligations and liabilities of the Committee have been discharged; and (ii) the Committee does not hold any surplus funds or that all surplus funds held by the Committee have been distributed in a manner approved by the Minister; and (b) a copy of the certificate is published in the Gazette; this Act thereupon ceases to have effect.