MINERAL DEVELOPMENT ACT (NORTHERN IRELAND) 1969 - SECT 43 Disposal of certain dormant or unclaimed moneys.

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MINERAL DEVELOPMENT ACT (NORTHERN IRELAND) 1969 - SECT 43

Disposal of certain dormant or unclaimed moneys.

43.(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;

(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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Northern Irish Legislation

MINERAL DEVELOPMENT ACT (NORTHERN IRELAND) 1969 - SECT 43