UNCLAIMED MONEYS (AMENDMENT) ACT 2024

This Act comes into operation on a date to be appointed by the Minister by notification in the Gazette.

Amendment of section 2

by substituting for the full stop at the end of the definition of “Minister” a semi colon; and

UNCLAIMED MONEYS (AMENDMENT) ACT 2024

by inserting after the definition of “Minister”

the following definitions:

‘ “prescribed” means prescribed by way of regulations made under this Act;

“Registrar” means the Registrar of Unclaimed Moneys appointed under section 4a;

“unclaimed moneys” means all sums of money as specified in section 2a;’.

New section 2a

which are legally payable to the owner and have remained unpaid for a period of not less than two years after they have become payable;

to the credit of an account that has not been operated in whatever manner by the owner for a period of not less than seven years; and

to the credit of a trade account which has remained dormant for a period of not less than two years.”.

New section 4a

The Minister may appoint one or more officers in the Government service to be the Deputy Registrars of Unclaimed Moneys and Assistant Registrars of

Unclaimed Moneys for the purposes of this Act.

Subject to the general direction and control of the Registrar and to such restrictions and limitations as may be prescribed under this Act or authorized or required to be done or signed by the Registrar may be done or signed by any Deputy Registrar or Assistant Registrar and shall be as valid and effectual as if done or signed by the Registrar.

No person dealing with any Deputy Registrar or

Assistant Registrar shall be concerned to see or inquire whether any restrictions or limitations have been prescribed, and every act or omission of a Deputy Registrar or

Assistant Registrar so far as it effects any such person shall be as valid and effectual as if done or omitted by the Registrar.”.

Amendment of section 5

in subsection (1), by substituting for the words

“the proper officer of such court having the control or custody of money paid into court” the words

“the Registrar or any person appointed by the Minister under subsection 4a(2)”; and

in subsection (2), by substituting for the words

“any officer of the court or otherwise” the words

“the Registrar or any person appointed by the Minister under subsection 4a(2)”.

Amendment of section 6

in the shoulder note, by substituting for the words

“officer of court” the words “Registrar or person appointed”;

by substituting for the words “the proper officer of court” the words “the Registrar or any person appointed by the Minister under subsection 4a(2)”;

by substituting for the words “or on behalf of such officer” the words “the Registrar or any person appointed by the Minister under subsection 4a(2)”; and

by substituting for the words “such officer” the words

“the Registrar or any person appointed by the

Minister under subsection 4a(2)”.

Amendment of section 8

by deleting the definition of “prescribed”;

by deleting the definition of “Registrar”; and

by deleting the definition of “unclaimed moneys”.

Deletion of section 9

Any extension of time granted under subsection 10(3)

of the principal Act before the date of coming into operation of this Act shall, on the date of coming into operation of this Act, be dealt with as if the principal Act had not been amended by this Act.

',&(7$.2/(+

3(5&(7$.$11$6,21$/0$/$<6,$%(5+$'

.8$/$/80385

ZZZSULQWQDVLRQDOFRPP\

HPDLO

FVHUYLFH#SULQWQDVLRQDOFRPP\

7HO





%$*,3,+$.'$1'(1*$13(5,17$+.(5$-$$10$/$<6,$



WJW24/XXXX 24-05-2024