Disposal of unclaimed property
25 Disposal of unclaimed property
S. 25(1) amended by No. 61/1996 s. 58(1)(a).
Subject to subsection (2) and with the approval of the Governor in Council the Board may retain, exchange, sell, lease or dispose of any property which although not vested in it by or under this Act—
S. 25(1)(a) amended by No. 61/1996 s. 58(1)(b).
has been submitted to or left with the Board or its duly authorized officer with a view to its acceptance by the Board by way of gift or purchase or for valuation or for the giving of an opinion thereon by or on behalf of the Board or for consideration for the purpose of any prize or competition;
S. 25(1)(b) amended by No. 61/1996 s. 58(1)(c).
has remained in the possession or custody of the Board for a period of not less than five years; and
has not, after notice given as hereinafter provided, been claimed by or on behalf of the person submitting or leaving such property as aforesaid or any other person claiming such property or any interest therein.
S. 25(2) amended by No. 61/1996 s. 58(2)(a).
Before seeking the approval of the Governor in Council to any retention, exchange, sale, lease or disposal pursuant to the provisions of subsection (1) the Board shall give not less than six months notice of its intention so to deal with the property—
by written notice sent by prepaid registered post to the person who submitted or left the property and addressed to him at his last known place of abode or business or, if such person is deceased, to his personal representative in like manner; or
S. 25(2)(b) amended by No. 61/1996 s. 58(2)(b).
by notice published in the Government Gazette and in a daily newspaper circulating generally throughout Victoria if the name or the place of abode or business of the person who submitted or left the property is not known to the Board.
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