34Notice of unclaimed trust moneys

34 Notice of unclaimed trust moneys

[Section 34 Inserted by No. 36 of 1958, s. 4 and Sched. 4 ]**[Section 34 Subsection (3) amended by No. 67 of 1994, s. 3 and Sched. 1 ]

(1)  A trustee company shall, at the end of each period of 6 months after the commencement of this section, deliver to the Public Trustee a statement of all unclaimed moneys that, during the preceding 6 months, were in its hands.

(2)  *[Section 34 Subsection (2) amended by No. 20 of 1995, s. 5 and Sched. 3 ]*A statement under this section shall distinguish the several estates in respect of which the moneys have been received by the trustee company and set forth the dates and amounts of the several payments thereof to the Public Trustee under section 32 , and, if those moneys or any part thereof have not been paid to the Public Trustee, shall also set forth the reason for the non-payment thereof.

(3)  *[Section 34 Subsection (3) amended by No. 55 of 1965, s. 5 ]*In default of compliance with the provisions of this section in respect of a trustee company, the company, and the secretary of the company, and every member of the board of directors or other governing body of the company, are jointly and severally liable to a fine not exceeding 0·1 penalty unit for each day during which the default continues.