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← Unclaimed Moneys Act 1965

Unclaimed Moneys Act 1965 s 11

Unclaimed Moneys Act 1965 s 11

Text recovered by OCR from a scanned copy — section numbers and wording may be wrong. Check the official PDF on lom.agc.gov.my before citing.

s 11

(1) All unclaimed moneys which have not been paid moneys. within twelve months after the/advertisement under sub- [Sub. AATa2 section (2) of section 10 shall, accompanied by a statement in the prescribed form, be pald within fourteen days after the expiration of that period of twelve monthsby the company or firm to the Consolidated Trust Account. (2) Any unclaimed moneys paid to the Consolidated Trust Account (to the extent to which they have not under this Part been paid out of the Consolidated Trust Account) shall, on the lapse of six years from the date of the payment thereof to the Consolidated Trust Account, be paid into the Consolidated Revenue Account. (3) In the event of failure so to pay any unclaimed moneys to the Consolidated Trust Account the company and in a company or firm every officer responsible shall be guilty three thousand (AAZ»> of an offence punishable with a fine not exceeding/five OAe < ringgit (4л3as) hundred dollars and thereafter with a further fine of not ififty ringg CHA3ZS, less thantwenty live dotars-and not more than flty donars %ne hurdke for every day during which that failure continues. ringgit (AA32r) (4) For the purposes of sub-section (3) above and ot sub-section (5) of section 10 of this Act "officer responsible" includes any officer who knowingly authorises or permits AAT22 - sush default refusal or failure. Registrar may inspect register, etc., to ascertain whether company is complying with provisions of this Part.

Read this section in the full act →

Find Act 370 on lom.agc.gov.my ↗

Source: Laws of Malaysia, Attorney General's Chambers of Malaysia (lom.agc.gov.my). Not a copy of the Gazette printed by the Government Printer (Interpretation Acts 1948 and 1967, s 61).

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