Clause 318

Where an unregistered company the place of incorporation or origin of which is in a designated country has been dissolved and there remains in Singapore any outstanding property, movable or immovable, including things in action which was vested in the company or to which it was entitled or over which it had a disposing power at the time it was dissolved, but which was not got in, realized upon or otherwise disposed of or dealt with by the company or its liquidator before the dissolution, the property, except called and uncalled capital, shall, by the operation of this section be and become vested, for all the estate and interest therein legal or equitable of the company or its liquidator at the date the company was dissolved, in such person as is entitled thereto according to the law of the place of incorporation or origin of the company.[Aust.s. 318.]

Where the place of origin of an unregistered company is Singapore the provisions of section 309 to 313 (both inclusive) shall with such adaptations as may be necessary apply in respect of that company.

Where it appears to the Minister that an enactment in force in any other country contains provisions similar to the provisions of this section, he may, by notice published in the Gazette declare that other country to be a designated country for the purposes of this section.