Section 5
Section 5
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
8 Laws of Malaysia ACT 370
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 Registrar or any person appointed by the
Minister under subsection 4A(2) 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 the Registrar or any person appointed by the Minister under subsection 4A(2)) 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
Unclaimed Moneys 9
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.
Power of Registrar or person appointed to sell securities and power of Judge of High Court to make vesting orders