101.—(1) Not more than 2 months before declaring a dividend, the liquidator in any winding up shall publish in the Gazette a notice of his intention to do so, and at the same time send the notice to every creditor mentioned in the statement of affairs who has not proved his debt. Such notice shall specify the latest date up to which proofs must be lodged, which shall not be less than 14 days from the date of the notice.
(2) Where a creditor, after the latest date for lodging proofs mentioned in the notice of intention to declare a dividend, appeals against the decision of the liquidator rejecting a proof —
(a)
the appeal shall be commenced and notice thereof given to the liquidator within 7 days from the date of the notice of rejection against which the appeal is made; and
(b)
the liquidator shall make provision for the dividend payable upon the proof and the probable costs of the appeal in the event of the proof being admitted.
(3) If no appeal has been commenced within the prescribed time, the liquidator shall exclude the proof which has been rejected from participation in the dividend.
(4) Immediately after the expiration of the time fixed by this rule for appealing against the decision of the liquidator he shall proceed to declare a dividend, and shall publish in the Gazette a notice as in Form 69(4) and shall also send a notice of dividend to each creditor whose proof has been admitted specifying the percentage of dividend payable and the amount of dividend payable to him.
(5) If it becomes necessary, in the opinion of the liquidator to postpone the declaration of the dividend beyond the prescribed limit of 2 months, the liquidator shall cause a fresh notice of his intention to declare a dividend to be published in the Gazette, and thereafter the same procedure shall be followed as in the case of the original notice; but no fresh notice need be given to creditors mentioned in the statement of affairs who have not proved their debts.
(6) [Deleted by S 53/2018 wef 01/02/2018]
(7) If a person to whom dividends are payable desires that they shall be paid to some other person he may lodge with the liquidator a document in Form 52 set out in the First Schedule which shall be a sufficient authority for payment of the dividend to the person therein named.