Act Revenue Unclaimed Money

Unclaimed money act 1950.

Act revenue unclaimed money. And includes any person acting for or on behalf of the holder. Money deposited with the territory pending the completion of a transaction or the determination of a dispute and that may become repayable. Short title and application 2. The list shows the name of the owner or owners of the money the amounts held and how the money can be claimed.

To refund the unclaimed moneys to claimants who provide proof that he has a legal right over the money to be claimed iii. How to claim back money that is legally yours. And also includes the personal representative of the holder. You can search online for money owed to you.

Commissioner means the commissioner of inland revenue as defined in the tax administration act 1994. The registrar is responsible for carrying out the obligations and functions vested under part ii of the unclaimed moneys act 1965 as follows. Unclaimed money paid to the public trustee and guardian under the unclaimed money act generally relate to accounts that have been inactive for over six years and can include deposits dividends trust account funds interest refunds overpayments sale proceeds and bonds. In order to unlock this potential source of revenue the unclaimed money act 1965 needs to be amended and substituted by a new bill.

You can make a claim for money that is legally yours. This is to legally enable the accountant general cum registrar. Unclaimed moneys 3 laws of malaysia act 370 unclaimed money act 1965 arrangement of sections section 1. How your business can send unclaimed money to us.

Provision for payment into consolidated revenue account in certain cases of unclaimed money in court 6. Saving part i moneys in court 5. The inland revenue department ird publishes an unclaimed money list of the unclaimed money that it holds. Holder in relation to any unclaimed money means a holder within the meaning of section 5.

Unclaimed trust money held by act government is defined as trust moneys under the financial management act 1996.