(a)the property of the society within Uganda shall forthwith vest in an officer appointed by the Minister;

(b)the officer appointed by the Minister shall proceed to wind up the affairs of the society, and after satisfying and providing for all debts and liabilities of the society and the cost of the winding up, if there shall then be any surplus assets shall prepare and submit to the Minister a scheme for the application of the surplus assets;

(c)the scheme, when submitted for approval, may be amended by the Minister in a way as he or she shall think proper in the circumstances of the case;

(d)the approval of the Minister to a scheme shall be denoted by the endorsement of a memorandum of approval signed by him or her, and upon this being done, the surplus assets, the subject of the scheme, shall be held by the officer appointed by the Minister under paragraph (b) upon the terms and to the purposes prescribed in the memorandum;

(e)for the purpose of the winding up, the officer appointed by the Minister shall have all the powers vested in the official receiver for the purpose of the discovering of the property of a debtor and its realisation.