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Vesting in liquidator of deposited amount.
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58.—(1) Where a holder of a licence or a former holder of a licence is unable to pay his debts and is being wound up, either voluntarily or by the Court, the Court may, on the application of the liquidator concerned, order that the amount standing deposited by the holder or former holder in the deposit protection account shall, together with any interest accrued and interest that may accrue and subject to the other provisions of this Chapter, vest in the liquidator by his official name.
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(2) Where, after payment of all eligible deposits, any balance of the amount vested in the liquidator by virtue of subsection (1) remains, it shall be treated for the purposes of the Companies Acts, 1963 to 1986, as an asset of the holder or former holder of the licence (as the case may be) vesting in the liquidator by his official name.
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