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Mineral Development Act (Northern Ireland) 1969

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43Disposal of certain dormant or unclaimed moneys.N.I.

(1)Where any money received by the Ministry under any disposition of rights to or in relation to mines and minerals made, or in consideration of any disposal of minerals worked, by the Ministry may include sums which are due by the Ministry to any person—

(a)in respect of compensation under section 29; or

(b)under the second proviso to section 13(3) of the Irish Land Act 1903 [1903 c.37] ;

and the circumstances are such that paragraph 15 of Schedule 2 as modified by section 42(2) does not apply, then, if the moneys have remained dormant or unclaimed in the hands of the Ministry for a period of six years at least before the first day of January then last past, the Ministry of Finance may direct that all such moneys, and any interest accrued thereon, and any further moneys received by the Ministry under the same disposition or in consideration of corresponding disposals shall be transferred to the Exchequer.

(2)Where, on an application to the Lands Tribunal made after the date on which any moneys were transferred to the Exchequer under section 19(1) of the Act of 1959 or, as the case may be, subsection (1), the Tribunal is satisfied that any person claiming is entitled to any payment out of those moneys, the Tribunal may order accordingly, and on receipt of such an order the Ministry of Finance shall issue out of the Consolidated Fund such sums as are necessary to provide for the payment so ordered, and shall make such payment.

(3)Where the Ministry of Finance pays any moneys to any person in pursuance of an order made under subsection (2), that Ministry shall pay to him interest upon those moneys from the date of their transfer to the Exchequer under section 19(1) of the Act of 1959 or, as the case may be, subsection (1) until the time of the payment of the moneys and interest to the person entitled thereto and shall issue out of the Consolidated Fund such sums as are necessary to provide for that interest.

(4)The rate of interest payable under subsection (3) shall be such rate as may be determined by the Ministry of Finance.

(5)In relation to sums such as are mentioned in paragraph ( b) of subsection (1) the reference in that subsection to moneys received or any disposition made includes a reference to moneys received or a disposition made before the commencement of this section.

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