Payment of unclaimed amounts to public trustee and guardian
10 Payment of unclaimed amounts to public trustee and guardian
This section applies if—
particulars of an unclaimed amount have been entered in a register kept by a company under section 7 (Register of unclaimed amounts to be kept); and
the amount has not been paid by the company to the person entitled to it within 1 year after the day the company gave the notice to the public trustee and guardian under section 8 (3) (a) that included particulars of the amount.
The company must pay the amount to the public trustee and guardian not later than 1 month after the end of the 1-year period.
On payment of the amount to the public trustee and guardian, the company is relieved from all further liability for the amount.
The statute text is free to read above. View Pro plans to unlock the case-law research tools for each provision.