Section 14: Procedure on seizure of certificate
consolidated text (as at 1991). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
14. Procedure on seizure of certificate
(1) Where a certificate is seized in execution of a judgment or order of a
Court, the person effecting the seizure shall forward the certificate to the
Accountant-General, who shall pay the face value of the certificate and cancel it.
T2 – 3 [Issue 1]
Tax Reserve Certificates Act
(2) Where that person, in the execution of a judgment or order entered or
made against a purchaser, or in seizing the property of a purchaser under a
judgment or order issued by a Court, is unable for any reason to obtain possession of the certificate, the face value of that certificate shall be deemed
to be an unsecured debt due from the Accountant-General as debtor to the
creditor.
(3) Where a certificate is owned by a company which is in the process of
being wound up, the liquidator may surrender the certificate to the AccountantGeneral, who shall pay the face value of the certificate and cancel it.