Section 36Part 8 — Issue Of Duplicates Of Securities Certificates, Exchange And Consolidation
Summary procedure-special cases
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If, within six months of the death of a person who was entitled to registered securities the nominal or face value of which does not in the aggregate exceed one thousand dollars, either probate or the will or letters of administration of the estate of such person or copies of such probate or letters certified by a justice of the peace, or notary public to be true copies are not produced to the Registrar, the Attorney-General at the request of the Registrar shall, after such inquiry as the Attorney-General may deem necessary, determine who is the person entitled to such securities or to administer estate of the deceased and thereupon the Registrar may —
where any such securities relates to a loan due for repayment, authorise the registration of the name of such person in substitution for the name of the deceased in the register and the payment to such person of the amount due in respect of those securities; or
where any securities relate to a loan not due for repayment, authorise the registration of the name of such person in substitution for the name of the deceased.
Any creditor or claimant against the estate of the deceased may recover his debt or claim out of any money paid to any person under subsection (1) and remaining in his hands unadministered in the same manner and to the same extent as if the said person had obtained letters of administration of the estate of the deceased, and nothing in this section shall affect any claim of an executor, administrator or other representative of the deceased against such person other than a claim to recover amounts lawfully paid by him in due course of administration of the estate of the deceased.
The Attorney-General may, for the purpose of an inquiry under this section, summon before him, administer an oath to and examine on oath any person.
Every examination on oath conducted by the Attorney-General in accordance with the powers conferred by subsection (3) shall be deemed to a judicial proceeding within the meaning of section 3 of the Penal Code (1995 Revision).
Cross References
- Section 3 of Penal Codeexternal
judicial proceeding