Disposal of Unclaimed Deposits Act

Chapter number: 
65
In force: 
Yes

 

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CONSOLIDATED TO 30 JUNE 2012

 

LAWS OF SEYCHELLES

CHAPTER 65

 

Act 19 of 1960

Act 23of 1976.

S.I. 61of 1988.

S.I. 41of 1991.

 DISPOSAL OF UNCLAIMED DEPOSITS

[12th September, 1960]

 

ARRANGEMENT OF SECTIONS

1.                  Short title

2.                  Interpretations

3.                  Transfer of deposits to general revenues

4.                  Payment of deposits after transfer, Prescriptions

 

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1.      This Act may be cited as the Disposal of Unclaimed Deposits Act.

 

2.      In this Act ?

 

"Principal Secretary" means the Principal Secretary of the Ministry of Finance.

 

3.      If he Principal Secretary is satisfied that any sum of money deposited in an account operated by him or in an account of the Seychelles Savings Bank belongs to a person who cannot be traced, the Principal Secretary may transfer such sum to general revenues after giving one month's notice of such transfer in the Gazette.

 

4.      It shall be competent for the Principal Secretary at any time after a transfer has been effected in accordance with the provisions of the preceding section, to pay out of general revenues such sum of money or any part thereof to an applicant who shows to the satisfaction of the Principal Secretary that he is entitled to such sum of money or any part thereof.

 

Provided that if a period of thirty years has elapsed from the date on which the sum of money has been transferred to general revenues under the provisions of the preceding section, such sum of money shall be deemed to be the property of the Government of Seychelles.

 

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NO SUBSIDIARY LEGISLATION

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