25Powers of Public Trustee in respect of unclaimed property

25 Powers of Public Trustee in respect of unclaimed property

[Section 25 Amended by 25 Geo. V No. 78 ]

(1)  The Court at any time may make an order vesting any property in the Public Trustee, if in respect thereof the Court is satisfied that –

(a) there are reasonable grounds to believe that the owner is permanently or indefinitely absent from the State, and has no agent in the State with authority to act on his behalf;

(b) after sufficient inquiry the owner cannot be found, or it cannot be ascertained who is the owner;

(c) it is not known whether the owner is living or dead, and there is no person in the State known to have authority to administer the property; or

(d) the owner is dead and the whereabouts of his executors or administrators cannot be ascertained.

(2)  Such order as aforesaid may be made on the application, ex parte, of the Public Trustee, who shall hold such property, subject to this Act, upon trust for the owner thereof.

(3)  [Section 25 Subsection (3) amended by No. 45 of 2003, Sched. 1, Applied:01 Jan 2004] Upon the application of the Public Trustee, or of any person interested, the Court may make an order directing the Public Trustee to apply such property or any portion thereof in such manner for the benefit of the spouse or children of such owner as the Court shall think fit.