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316: Establishment of Liquidation Surplus Account
or “Setting up a special account for leftover money from closed companies”
You could also call this:

“Rules about cancellable company transactions removed from law”

This part of the law has been removed. It used to talk about what happens when a company makes a transaction that can be cancelled. The rule was taken out of the Companies Act 1993 on 5 December 2013. This means it no longer applies, and you can’t use it anymore.

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Next up: 316B: Transitional provision in relation to Liquidation Surplus Account under section 290 of Companies Act 1955

or “Rules for handling unclaimed money from closed companies after law change”
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Part 16 Liquidations
Transitional provisions

316ATransitional provision in relation to voidable transactions (Repealed)

    Notes
    • Section 316A: repealed, on , by section 9 of the Companies Amendment Act 2013 (2013 No 111).