(1) A "reclaim fund" is a company the objects of which are restricted by its articles of association to the following -

(a) the meeting of repayment claims;

(b) the management of dormant assets funds in such a way as to enable the company to meet whatever repayment claims it is prudent to anticipate;

(c) the transfer of money (other than money subject to paragraph (ca) or (cb)) to the body or bodies for the time being specified in section 16(1), subject to the need for the company -

(i) to have access at any given time to enough money to meet whatever repayment claims it is prudent to anticipate,

(ii) to comply with any requirement with regard to its financial resources that is imposed on it by or under any enactment, and

(iii) to defray its expenses;