s 7
(1) If the property is unclaimed it is treated as forfeited. (2) The property is “unclaimed” if, by the end of the period for the giving of a notice of claim— (a) no such notice has been given in relation to it or any part of it, or (b) the requirements of paragraphs 5 and 6 have not been complied with in relation to the only notice or notices of claim that have been given. (3) Sub-paragraph (1) applies in relation to a readily separable part of the property as it applies in relation to the property, and for this purpose sub-paragraph (2) applies as if references to the property were to the part. (4) In this paragraph “ readily separable part ” has the meaning given by paragraph 1.