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All moneys, securities, and property, real or personal, received by or vested in the Treasury Solicitor under any administration, or in consequence of the same having accrued to Her Majesty as part of the personal estate of any deceased person, or under any forfeiture, or otherwise by virtue of her royal prerogative, shall be paid, invested, transferred, sold, and disposed of in such manner as may be directed by rules under this Act, and, so far as such rules do not apply, as the Treasury direct, subject as follows:
(1)All such money and all money arising from such securities and property, whether as income or as the proceeds of the sale or disposal thereof, or otherwise, shall be carried to the account directed by the rules (in this Act referred to as the Crown’s Nominee Account); and
(2)All money standing to the said account and not required for the purposes thereof shall be paid into the account of Her Majesty’s Exchequer; and
(3)Where any money, securities, or property to which this section applies has been granted by Her Majesty to any person, and has not been claimed within the period fixed by the rules, the Treasury may direct such unclaimed securities and property to be sold, and the proceeds of such sale and the said money to be paid to the Crown’s Nominee Account:
Provided, that if any person satisfies the Treasury of his right under the said grant to the whole or any part of such unclaimed money, securities, or property, the Treasury may direct the sum paid to the Crown’s Nominee Account in respect of the same or of the part to which such person shows himself to be entitled, to be paid to such person out of the Consolidated Fund, . . . F1
The accounts of the receipts and expenditure on the Crown’s Nominee Account shall be deemed to be public accounts; and such abstract thereof as may be directed by rules under this Act shall be annually laid before the House of Commons.
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