Singapore legislation
Clause 60
Clause 60
Unclaimed money to be paid into court
(1)
All moneys and assets which remain in the hands of a licensed trust company, as trustee of a trust constituted in Singapore, and unclaimed by the person entitled to them for a period of 6 years after the time when they became payable to that person (except where payment has been restrained by order of a court of competent jurisdiction), together with such interest, if any, as has been received by the licensed trust company in respect thereof, less any commission or other charges properly chargeable by the licensed trust company, shall be paid by the licensed trust company into court —
under and in accordance with section 62 of the Trustees Act (Cap. 337); and
within such time or at such intervals as may be prescribed.
(2)
It shall not be necessary for a licensed trust company to obtain the concurrence or consent of any person to make payment into court in accordance with subsection (1).