Advertisement
Unclaimed Moneys Act 1965 [Act 370]

Part I

MONEYS IN COURT

5 Provision for payment into Consolidated Revenue Account in certain cases of unclaimed money in court

(1) Notwithstanding anything to the contrary contained in any written law, rule of law or rule of court, in any case where any money has been or is paid into any court under any written law or rule of court (heretofore now or hereafter in force) or by virtue of any rule of practice or procedure (heretofore now or hereafter in force) and no claim application action suit or other proceeding for or in respect of such money has been or is made or instituted for a period of fifteen years after the last payment out of court of any part of such money or (where no payment out of court has been or is made) after such payment into court, the proper officer of such court having the control or custody of money paid into court shall as soon as practicable after the termination of such period of fifteen years pay such money into the Consolidated Revenue Account:

Provided that in any case where the documents filed in the court disclose the existence at any time of a person who would have been entitled to make or institute a claim application action suit or proceeding as aforesaid but for want of age or other legal disability or who would have become so entitled on the happening of some event, the period of fifteen years aforesaid shall not in any event be deemed to have commenced to run-

(a) until the day on which (according to satisfactory evidence filed in the court) such person became of age or such other disability was determined or such event happened (as the case may be); or

(b) until the day on which (according to satisfactory evidence filed in the court) such person died,


whichever day was the earlier.

Interpretation of "money paid into court" to include securities, interest, dividends, etc.


(2) For the purposes of this Part "money paid into court" means money or any security paid into court or paid into any bank (whether in the name or to the credit of any officer of the court or otherwise) or paid into any Bank Simpanan Nasional to be subject to the order or disposition of the court, and from the time of such payment includes any security or money into which such first-mentioned money or security or any part thereof is or has been converted and all interest and every dividend or other profit accrued or accruing from any such money or security up to the time of payment into the Consolidated Revenue Account, and for the purpose of such payment into the Consolidated Revenue Account includes the proceeds of the sale or conversion into money of any such security under section 6.

6 Power of officer of court to sell securities and power of Judge of High Court to make vesting orders

Notwithstanding any written law or rule of law, for the purpose of any payment of money into the Consolidated Revenue Account under subsection 5(1), the proper officer of court aforesaid is hereby empowered after the expiration of such period of fifteen years to sell or otherwise convert into money any security referred to in subsection (2) of the said section and in order to facilitate such payment into the Consolidated Revenue Account, a Judge of the High Court, upon application by or on behalf of such officer, may make an order vesting in such officer the property or interest in any such security or in any money in any bank referred to in subsection (2) of that section.

7 Provision for claims, etc., made after payment into Consolidated Revenue Account

(1) Where after any money is paid into the Consolidated Revenue Account pursuant to this Part as aforesaid any claim, suit, action, application or other proceeding for or in respect thereof is made or instituted by any person such claim, suit, action, application or other proceeding shall be heard and determined in all respects as if such money had remained in court and the court may make such order as is sanctioned by law for the payment to any person of the money aforesaid or any part thereof.

Provision for payment out of revenue in order of court


(2) When any such order is made and a copy thereof is served upon the Minister he shall in compliance with such order without any further or other authority than this Act pay the amount specified in such order (without interest from the date of payment into the Consolidated Revenue Account) to the person to whom such order directs such payment to be made; and such amount shall be charged upon the Consolidated Fund and be payable out of the Consolidated Revenue Account (which is hereby to the necessary extent appropriated for the purpose accordingly).


SEARCH LEGISLATION
Title:


Number:

ADS