Unclaimed trust money held by licensee

In force

(1)

A licensee who in the month of January in a year holds in a trust account kept by the licensee money that was received by the licensee more than 2 years before that month must furnish to the Secretary in that month a statement (an unclaimed money statement) showing particulars of—

(a)

the money so held, and

(b)

each person for whom or on whose behalf the money is held, and

(c)

the address last known to the licensee of each of those persons.

(2)

A statement under this section is to be in the form approved by the Secretary.

This Act’s bill:Explanatory memorandum Second reading speech

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62 Unclaimed trust money held by licensee