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Unclaimed Money Act 1964

LAWS OF WESTERN SAMOA

UNCLAIMED MONEY ACT 1964

ANALYSIS

Title
1. Short title
2. Interpretation
3. Act to bind State
4. Administration of Act
5. Periods after which certain money become unclaimed money
6. Register to be kept
7. Holder to notify Minister and owner of entry in register
8. Payment of unclaimed money to the Public Account
9. Offences
10. Examination of accounts
11. Minister may make payment to claimant
12. Delegation of Minister's powers
13. Responsibility to second claimant
Schedule

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1964, No. 11

An Act to provide for the disposition of certain unclaimed money

[26 October 1964

1. Short title - This Act may be cited as the Unclaimed Money Act 1964.

See the following provisions of the Public Trust Office Act 1975:

S. 44 (power to administer if no application made for probate or administration).

S. 70 (certificate by Public Trustee as to his status).

Part VI (unclaimed property).

S. 83 (transfer of unclaimed property to the state).

2. Interpretation - In this Act, unless the context otherwise requires, -

"Holder" means -

(a) Every bank (including the Post Office Savings Bank and any other savings bank) carrying on business in Western Samoa;

(b) [The Public Trustee];

(c) Every person, partnership, company and corporation carrying on business in Western Samoa; and

(d) The Financial Secretary, in respect of public money to which section 46 and section 47 of the Public Money Act 1964 apply:

"Minister" means the Minister of Finance:

"Owner" means the person entitled to any unclaimed money, and includes his executors, administrators or assigns, or his or their lawful attorney or agent in Western Samoa:

"Unclaimed money" means, subject to section 5 of this Act, all principal and interest money, and all unforfeited dividends, bonuses, profits and other sums of money whatsoever owing to any owner which, on the coming into force of this Act or at any time thereafter, have been in the possession of any holder for a period of 6 years or upwards after the time when the same became payable, and in respect whereof no claim has been made by the owner against the holder.

Cf. 1908, No. 201, s. 2 (N.Z.)

"Holder": In para. (b) the reference to the Public Trustee has been substituted for a reference to the Samoan Public Trustee pursuant to s. 3 (d) of the Reprint of Statutes Act 1972; see the Public Trust Office Act 1975.

3. Act to bind State - This Act shall bind the Independent State of Western Samoa.

4. Administration of Act - This Act shall be administered by the Treasury, subject to the control of the Minister.

5. Periods after which certain money becomes unclaimed money - (1) The following money deposited in any bank (including the Post Office Savings Bank and any other savings bank) shall become unclaimed money within the meaning of this Act at the times hereinafter mentioned (whether or not it has at any time theretofore become payable), namely -

(a) Money deposited so as to bear interest for a fixed term-at the expiration of 6 years from the date when such fixed term expired;

(b) Money deposited so as to bear interest without any limitation of time-at the expiration of 25 years from the date when the account was last operated on by the customer;

(c) Money deposited on current account [or] otherwise and not bearing interest at the expiration of 6 years from the date when the account was last operated on by the customer in the case of a bank other than a savings bank, and at the expiration of 25 years in the case of the Post Office Savings Bank or other savings bank.

(2) Public money to which section 46 and section 47 of the Public Money Act 1964 apply shall become unclaimed money within the meaning of this Act at the expiration of one year after having become payable to the depositor thereof or other person entitled thereto, or at the expiration of such longer period as the Financial Secretary in any case may direct.

Cf. 1932, No. 11, s. 26 (N.Z.); 1959, No. 23, s. 49

In subs. (1) (c) the word "or", which appeared in the corresponding provision in the Unclaimed Money Act 1908 (N.Z.), has been substituted for the word "to", pursuant to s. 3 (f) of the Reprint of Statutes Act 1972.

6. Register to be kept - (1) It shall be the duty of every holder, on the first working day of July in each year, to enter in a register to be kept by such holder at his head or principal office in Western Samoa, in the form in the Schedule hereto or to the like effect, and with the particulars therein specified, all unclaimed money in Western Samoa then held by the holder.

(2) From and after the 8th day of July in each year, each such register shall be open to the inspection of all persons at such office during ordinary business hours on payment of a fee of [20 sene]

(3) On ceasing to carry on business in Western Samoa, a holder shall deposit his register in the custody of the Financial Secretary:

Provided that any holder may at any time so deposit his register or any part thereof if no entry has been made therein for a period of not less than 6 years immediately proceeding the date of such deposit.

Cf. 1908, No. 201, s. 3 (N.Z.)

7. Holder to notify Minister and owner of entry in register - Not later than the 15th day of July in each year, or such later date as the Minister approves in writing, every holder shall -

(a) Furnish to the Minister a copy of every entry made on the first working day of that month in the register kept by him pursuant to section 6 of this Act; and

(b) Send to every person in respect of whom any such entry was made as the owner of unclaimed money a notice in writing specifying the amount and the fact of such entry as unclaimed money.

Cf. 1932, No. 11, s. 28 (1) (N.Z.)

8. Payment of unclaimed money to the Public Account - (1) All unclaimed money which has not been paid by a holder to the owner thereof within 3 months after the posting to the owner of the notice prescribed by section 7 of this Act shall be paid by the holder into the Public Account to the credit of the Treasury Fund, and the holder shall thereupon be relieved from all further liability in respect of the money so paid.

(2) All money payable to the credit of the Treasury Fund in accordance with this section shall be recoverable in any Court of competent jurisdiction as a debt due to the Independent State of Western Samoa.

Cf. 1932, No. 11, s. 30 (N.Z.)

9. Offences - If any default is made in complying with any of the last 3 preceding sections, the holder, and every director, manager, secretary, and other officer of the holder who knowingly and wilfully authorises and permits the default, shall be liable to a fine of [$2] for every day during which the default continues.

Cf. 1932, No. 11, s. 29 (N.Z.)

10. Examination of accounts - (1) The Minister or the Financial Secretary may at any time examine any register kept by a holder pursuant to section 6 of this Act and any accounts of the holder relating to unclaimed money, and may for that purpose require the production before him or any of his officers of any books, vouchers or documents relating to such money.

(2) The Financial Secretary or any of his officers authorised by him in that behalf shall at all times have full and free access to all books and documents, and the right to make copies thereof or of extracts therefrom, for the purposes of this Act.

(3) Every person shall from time to time as required by the Financial Secretary furnish in writing any information, or produce any books or documents, which may be in his knowledge, or in his possession or control, as the case may be, and which relate to money which is or may be unclaimed money.

(4) If any error is found in any such register or accounts or notice sent to the owner or copy of any such document, the Minister or the Financial Secretary may require the same to be amended.

(5) The Financial Secretary and every officer authorised by him as aforesaid shall maintain and aid in maintaining the secrecy of all matters which come to his knowledge in the course of any inspection under this section, and shall not communicate any such matter to any person, except for the purpose of carrying this Act into effect.

(6) Every person who fails to comply with any of the requirements of this section commits an offence, and is liable to a fine of [$100].

Cf. 1932, No. 11, s. 31 (N.Z.)

11. Minister may make payment to claimant - If any claimant makes any demand on the Minister for any money paid to the Treasury Fund pursuant to this Act, the Minister, on being satisfied that the claimant is the owner of the money demanded by him, shall order and direct payment thereof to be made to him, and the same shall be statutory expenditure.

Cf. 1908, No. 201, s. 8 (N.Z.)

12. Delegation of Minister's powers - (1) The Minister may from time to time, either generally or particularly, by writing under his hand delegate to the Financial Secretary the power conferred on the Minister by section 11 of this Act to pay to any claimant any money paid into the Treasury Fund under this Act, not exceeding the sum of [$100] in the case of any one claimant.

(2) Where the Financial Secretary purports to act pursuant to any delegation under this section, he shall, in the absence of proof to the contrary, be presumed to be acting in accordance with the terms of the delegation.

(3) Every delegation under this section shall be revocable in writing at will, and no such delegation shall prevent the exercise of the power by the Minister.

(4) Every such delegation shall, until it is revoked, continue in force according to its tenor, notwithstanding that the Minister or the Financial Secretary may have ceased to hold office, and shall continue to have effect as if made by or in favour of his successor in office.

Cf. 1958, No. 99, s. 2 (N.Z.)

13. Responsibility to second claimant - Where any unclaimed money paid to any claimant is afterwards claimed by any other person, neither the Minister nor the Financial Secretary shall be responsible for the payment of the same, but such person may have recourse against the claimant to whom the Minister or the Financial Secretary has paid the unclaimed money.

Cf. 1908, No. 201, s. 9 (N.Z.)

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SCHEDULE

Section 6

REGISTER OF UNCLAIMED MONEY HELD BY
(insert name of holder)

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The Unclaimed Money Act 1964 is administered in the Treasury.

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