Official Trustees Act : Transfer to Government of accumulations in the hands ofOfficial Trustee Indian Bare

Official Trustees Act,1913

Act No : 2

Section : Transfer to Government of accumulations in the hands ofOfficial Trustee

23. Transfer to Government of accumulations in the hands ofOfficial Trustee.- When any moneys payable to a beneficiary under atrust have been in the hands of any Official Trustee for a period oftwelve years or upwards whether before or after the commencement ofthis Act in consequence of the Official Trustee having been unable totrace the person entitled to receive the same, such money shall betransferred in the prescribed manner to the account and credit of theGovernment 1*** : Provided that no such moneys shall be so transferred if any suitor proceeding is pending in respect thereof in any Court.