Public Trust Corporation Act 1995 · Updated to 1 Sep 2010 · Part V · General
35. Exemption from giving notice of distribution of property
Feedback & supportWhere the total value of any property (without deduction for debts, but not including the value of any property which the deceased possessed or was entitled to as trustee and not
property
“property” includes all property, movable or immovable, and all estates, interests, easement and rights, whether equitable or legal in, to or out of property, chose in action, money and goodwill;
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beneficially) administered by the Corporation, whether pursuant to any trust instrument or will or by virtue of a grant of letters of administration to the Corporation or by virtue of the powers conferred on the Corporation by this Act, does not exceed six hundred thousand ringgit, it shall not be necessary for the
Corporation
“Corporation” means the corporation under the name of Amanah Raya Berhad incorporated under the Companies Act 1965
Corporation to give notice of its intention to distribute the estate or require any person interested to send in particulars of his claim against the estate, but the Corporation may proceed forthwith to convey or distribute the estate or any part thereof to or among the persons entitled thereto, having regard only to the claims, whether formal or not, of which the Corporation then had notice, and the Corporation shall not, as respect the property so conveyed or distributed, be liable to any person of whose claim the Corporation has not had notice at the time of conveyance or distribution; but nothing in this section shall—
estate
“estate” means any property administered, held, managed or controlled by the Corporation whether as trustee or administrator or as guardian, receiver, receiver and manager, liquidator or attorney, or in any other capacity;
prejudice the right of any person to follow the property representing the same, into the hands of any person, other than a purchaser, who may have received it; or
free the Corporation from any obligation to make searches similar to those which an intending purchaser would be advised to make or obtain.