Section 126: Unclaimed and undistributed money

126. Unclaimed and undistributed money (1) (a) Where the trustee, under any bankruptcy, composition or scheme pursuant to this Act has under his control any unclaimed dividend which has remained unclaimed for more than 12 months, or where, after making a final dividend, such trustee has in his hands or under his control any unclaimed or undistributed money arising from the property of the debtor, he shall forthwith pay the same to the Curator. (b) The Curator shall furnish him with a certificate of receipt of the money so paid, which shall be an effectual discharge to him in respect of that money. (2) (a) Where any unclaimed or undistributed funds or dividends in the hands or under the control of any trustee or other person empowered to collect, receive or distribute any funds or dividends under any bankruptcy law or any petition, resolution, deed or other proceeding under or in pursuance of any B4 – 45 [Issue 1] Bankruptcy Act such law have remained or remain unclaimed or undistributed for 12 months after the same became claimable or distributable, or in any other case for 2 years after the receipt thereof by such trustee or other person, the trustee or other person shall forthwith pay the same to the Curator and the Curator shall furnish such trustee or other person with a certificate of receipt of the money so paid, which shall be an effectual discharge to him in respect thereof. (b) The Curator may at any time require any such trustee or other person to submit to him an account verified by affidavit of the sums received and paid by him under or in pursuance of any such petition, resolution, deed or other proceeding under paragraph (a) and may require an audit of the account. (3) All sums paid to the Curator under this section shall be deemed property in his charge under the Curatelle Act, and shall be subject to that Act.