B-5.1 - Unclaimed Property Act

Section 5 Disposition versions

2011-06-13

5. A debtor or holder of property that becomes unclaimed property described in section 3 must, within six months preceding the date by which the property must be delivered to the Minister under section 6, give the right-holder at least three months’ written notice describing the property and informing the right-holder that the property will be delivered to the Minister if it is not claimed within the allotted time.

The debtor or holder is not, however, required to give such notice if the debtor or holder cannot, by reasonable means, ascertain the right-holder’s address, if the total value of the property unclaimed by the right-holder is less than $100, and in other cases determined by government regulation.

2011, c. 10, s. 5.