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← Unclaimed Moneys Act 1965

Unclaimed Moneys Act 1965 s 3

Unclaimed Moneys Act 1965 s 3

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 3

The provisions of this Act shall be read and construed as Act to be in aid of and not in derogation from the provisions of any read in aid other written' law relating to the disposition of unclaimed of and not in derogation moneys. of otber written laws relating to unclaimed moneys. 4.Unless expressly provided to the contrary by this Act Saving. no one shall be in any manner liable to any person by reason ot the payment by him of any money into the Consolidated Kevenue Account or the doing by him of any other act in good faith pursuant to the provisions of this Act. Sub. AA722 Sub. AA722 Sub. AA722 (b) all societies and co-operative societies registered under any written law relating to societies or to co-operative societies; and (c) any corporation,publicauthority, societyor trade union whatsoever byorder declared by the Minister to be a company to which this Part applies; "firm" means an unincorporated body of persons (whether consisting of individuals or of corporations or partly of individuals and partly of corporations) associated together for the purpose of carrying on business; "officer"— (a) in relation to a company includes- (i) any director secretary or employee of the company; and (ii) a receiver and manager of any part of the undertaking of the company appointed under a power contained in any instrument, but does not include any receiver who is not also a manager, and any receiver and manager appointed by a court; (b) in relation to a firm includes any partner, member, manager or employee of the firm; and (C) In relation to any other corporation includes member, secretary or employee of the corporation; "owner" means the person entitled to any unclaimed moneys and includes his executors administrators or assigns or his or their lawful attorney or agent in Malaysia; "prescribed" means prescribed by or under this Act or by the regulations made hereunder; "Registrar" means the Registrar of Unclaimed Moneys appointed under section 9; "unclaimed moneys" means- (a) all principal and interest and all dividends, bonuses and profits and all salaries and wages and all sums of money whatsoever which are legally payable to the owner and have remained unpaid not less than twelve months atter they have become payable; and (b) any moneys to the credit of an account that has not been operated on either by deposit or withdrawal for a period of not less than seven years. UNCLAIMED MONEYS (2) Subject to sub-sectidn (1): of section 14 of this ActD/1A722 this Part shall not apply to any unclaimed moneys for which specialprovision has been made bythis or any other written law.

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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