B-5.1 - Unclaimed Property Act

Section 30 Disposition versions

2023-12-07

30. All sums of money delivered to the Minister of Finance become property of the State.

Any right-holder with respect to sums of money so delivered, or with respect to the property from whose liquidation such sums derive, may recover the sums from the Minister, with interest capitalized daily and calculated from the date of delivery, at the rate set under the second paragraph of section 28 of the Tax Administration Act (chapter A-6.002). Subject to the provisions of the Civil Code relating to the petition of inheritance, the right of recovery is not subject to prescription, except where it relates to a sum of money amounting to less than $500 at the time of its delivery to the Minister of Finance, in which case the right to recovery is prescribed by 10 years from the date of delivery.

The Minister of Finance is authorized to take the sums of money required to make payments to right-holders under the second paragraph out of the sums of money referred to in the first paragraph and, if these are insufficient, out of the Consolidated Revenue Fund.

2011, c. 10, s. 30; 2022, c. 23, s. 7; 2023, c. 30, s. 37.

2022-06-08

30. All sums of money delivered to the Minister of Finance become property of the State.

Any right-holder with respect to sums of money so delivered, or with respect to the property from whose liquidation such sums derive, may recover the sums from the Minister, with interest capitalized daily and calculated from the date of delivery, at the rate set under the second paragraph of section 28 of the Tax Administration Act (chapter A-6.002). Subject to the provisions of the Civil Code relating to the petition of inheritance, the right of recovery is not subject to prescription, except where it relates to a sum of money amounting to less than $500 at the time of its delivery to the Minister of Finance, in which case the right to recovery is prescribed by 10 years from the date of delivery.

The Minister of Finance is authorized to take the sums of money required to make payments to right-holders under the second paragraph out of the sums of money referred to in the first paragraph and, if these are insufficient, out of the Consolidated Revenue Fund.

On the conditions and to the extent the Government determines on the joint recommendation of the Minister and the Minister of Finance, the Minister of Finance pays into the Generations Fund established under the Act to reduce the debt and establish the Generations Fund (chapter R-2.2.0.1) the sums of money referred to in the first paragraph, minus those required to make payments to right-holders under the second paragraph.

2011, c. 10, s. 30; 2022, c. 23, s. 7.

2012-01-01

30. All sums of money delivered to the Minister of Finance become property of the State.

Any right-holder with respect to sums of money so delivered, or with respect to the property from whose liquidation such sums derive, may recover the sums from the Minister, with interest capitalized daily and calculated from the date of delivery, at the rate set under the second paragraph of section 28 of the Tax Administration Act (chapter A-6.002). Subject to the provisions of the Civil Code relating to the petition of inheritance, the right of recovery is not subject to prescription, except where it relates to a sum of money amounting to less than $500 at the time of its delivery to the Minister of Finance, in which case the right to recovery is prescribed 10 years after the date of delivery.

The Minister of Finance is authorized to take the sums of money required to make payments to right-holders under the second paragraph out of the sums of money referred to in the first paragraph and, if these are insufficient, out of the Consolidated Revenue Fund.

On the conditions and to the extent the Government determines on the joint recommendation of the Minister and the Minister of Finance, the Minister of Finance pays into the Generations Fund established under the Act to reduce the debt and establish the Generations Fund (chapter R-2.2.0.1) the sums of money referred to in the first paragraph, minus those required to make payments to right-holders under the second paragraph.

2011, c. 10, s. 30.