s.9Claims
9
Section 9Part 0 —

Claims

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Where an account provider has transferred monies (and any related rights and obligations) from a dormant account to the Government under section 7, the monies vested in the Government shall be held as trust assets within the meaning of Part VIII of the Public Management and Finance Law (2010 Revision) and —
the dormant account holder no longer has any right against the account provider to repayment of the monies transferred and any other related rights and related obligations of the account provider are extinguished; and
the dormant account holder has, against the Government such right to repayment of the monies transferred and any other related rights and obligations as the dormant account holder would have had against the account provider, except that any right against the Government or claim arising under this section shall be dealt with in accordance with this section and Part VIII of the Public Management and Finance Law (2010 Revision).
A claim under subsection (1) shall be submitted to the Minister in writing signed by the claimant and shall be accompanied by the prescribed documents and information.
Where a claimant proves to the satisfaction of the Minister that he is the dormant account holder and the monies in the dormant account have been transferred to the Government under section 7, the claimant shall be provided with a statement of account and shall within twenty-eight days be paid by the Government, subject to the deduction of any charges that may lawfully be withheld, the total amount of the monies transferred to the Government under section 7.
The Government or an account provider shall not be liable for any interest on monies transferred to the Government by account provider under section 7.
A person aggrieved by a decision of the Minister under this section has a right of appeal against that decision to the Grand Court.
A person who fraudulently makes a claim for repayment under subsection (1) commits an offence and is liable on summary conviction to a fine of twenty thousand dollars.

Cross References