Section 11
Disposal of unclaimed moneys
ActIn forceProvision 15 of 21
Section 11
(1)
The Registrar shall credit to the Consolidated Trust Account all unclaimed moneys which have been lodged with him under subsection 10(2).
(2)
Any unclaimed moneys credited to the Consolidated Trust
Account (to the extent to which they have not been paid out of the
Consolidated Trust Account under this Part) shall, on the lapse of ten years from the date the moneys were credited to the Consolidated Trust
Account, be transferred to the Consolidated Revenue Account.
(3)
No interest shall be payable on all moneys held in the
Consolidated Trust Account or in the Consolidated Revenue Account under this Part.
Registrar may inspect register, etc., to ascertain whether company or firm is complying with this Part