Section 75Part 8 — General Provisions - Trust Assets
Bona vacantia
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Where any asset, except an interest in land, is vested in the Crown as bona vacantia, the Minister of Finance (or any person appointed by that person for this purpose) may on behalf of the Crown exercise any power or right (including any power of disposal), and perform any obligation, in respect of or in connection with the asset that could be exercised or performed by the Crown.
If any person claims any asset which belongs to the Crown as bona vacantia, and establishes a claim to the satisfaction of the Minister of Finance (or any entity appointed by that person under subsection (1)), the asset shall be transferred to that person without further appropriation.
Where any asset transferred to any claimant under subsection (2) is afterwards claimed by any other person, neither the Government, nor the Minister of Finance nor a person appointed under subsection (1) shall be liable to that other person by reason of having transferred the asset to the first claimant.
Defined Terms
bona vacantiaCrownMinister of Finance