When any moneys payable to a beneficiary under a trust have been in the hands of any Official Trustee for a period of twelve years or upwards whether before or after the commencement of this Act in consequence of the Official Trustee having been unable to trace the person entitled to receive the same, such money shall be transferred in the prescribed manner to the account and credit of the Government 1*** :
Provided that no such moneys shall be so transferred if any suit or proceeding is pending in respect thereof in any Court.
(1) If any claim is made to any moneys so transferred and such claim is established to the satisfaction of the prescribed authority, the Government 1*** shall pay to the claimant the amount in respect of which the claim is established.
(2) If such claim is not established to the satisfaction of the prescribed authority, the claimant may, without prejudice to his right to take any other proceedings for the recovery of such moneys, apply by petition to the High Court against the 2*[Government], and, after taking such evidence as it thinks fit, such Court shall make such order on the petition in regard to the payment of such moneys as it thinks fit, and such order shall be binding on all parties to the proceedings.
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(3) The Court may further direct by whom all or any part of the costs of such proceedings shall be paid.
Any order under this Act may be made, on the application of any person beneficially interested in any trust property or of any trustee thereof.
Any order made by a High Court under this Act shall have the same effect as a decree.
The Official Trustee may, in addition to and not in derogation of any other powers of expenditure lawfully exercisable by him, incur expenditure--
(a) On such acts as may be necessary for the proper care and management of any property belonging to any trust administered by him; and
(b) With the sanction of the High Court on such religious, charitable and other objects and on such improvements as may be reasonable and proper in the case of such property.
(1) Nothing in this Act shall be deemed to prevent the transfer by the Official Trustee of any property vested in him to-
(a) The original trustee (if any); or
(b) Any other lawfully appointed trustee; or
(c) Any other person if the Court so directs.
(2) Upon such transfer such property shall vest in such trustee, and shall be held by him upon the same trusts as those upon which it was held prior to such transfer, and the Official Trustee shall be exempt from all liability as trustee of such property except in respect of acts done before such transfer:
Provided that, in the case of any transfer under this section, the Official Trustee shall be entitled to retain out of the property any fees leviable in accordance with the provisions of this Act.
(1) The Government shall make rules for carrying into effect the objects of this Act and for regulating the proceedings of the Official Trustee in the discharge of his duties.
(2) In particular and without prejudice to the generality of the foregoing power, such rules may provide for--
(a) The accounts to be kept by the Official Trustee and the audit and inspection thereof;
(b) The safe custody, and deposit of the funds and securities which come into the hands of the Official Trustee;
(c) The remittance of sums of money in the hands of the Official Trustee in cases in which such remittances are required;
(d) The statements, schedules and other documents to be submitted by the Official Trustee to Government or to any other authority and the publication of such statements, schedules or other documents;
(e) The realization of the cost of preparing any such statements, schedules or other documents;
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(f) Subject to the provisions of this Act, the fees to be paid there under and the collection and accounting for any fees so fixed;
(g) The manner in which and the person by whom the costs of and incidental to any audit under the provisions of this Act are to be determined and defrayed;
(h) The manner in which summonses issued under the provisions of section 20 are to be served and the payment of the expenses of any persons summoned or examined under the provisions of this Act and of any expenditure incidental to such examination;
(i) The acceptance by the Official Trustee of trusts for religious purposes and trusts which involve the management or carrying on of business; and
(j) Any matter in this Act directed to be prescribed.
(3) Rules made under the provisions of this section shall be published in the Official Gazette, and shall thereupon have effect as if enacted in this Act.
3*[(3A) Every rule made by the State Government under this section shall be laid, as soon as it is made, before the State Legislature.];
2*[(4) Every rule made by the Central Government under this section shall be laid, as soon as may be after it is made, before each House of Parliament while it is in session for a total period of thirty days which may be comprised in one session or 3*[in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid] both Houses agree in making any modification in the rule or both Houses agree that the rule should not be made, the rule shall thereafter have effect only in such modified form or be of no effect, as the case may be; so however that any such modification or annulment shall be without prejudice to the validity of anything previously done under that rule.]
Nothing contained in this Act shall be deemed to affect the provisions of the Indian Registration Act, 1908 (16 of 1908).
32A -1* Saving.
2*[(1)] The amendments of this Act which come into force on 3*[the 26th day of January, 1950], shall not affect any legal proceedings pending in any Court on that date or be construed as automatically transferring any property from any Official Trustee to any other Official Trustee: but nothing in this section shall be construed as preventing a transfer of any such property in accordance with any of the other provisions of this Act.]
4*[(2) The amendments of this Act, which come into force on the 26th day of January, 1950, shall not affect any legal proceeding arising out of the application of this Act to any person in a Part B State and pending in any Court on the said date or the administration of any property or estate of any such person which was immediately before that date vested in an Official Trustee under this Act, and the provisions of this Act shall, notwithstanding the said amendments, continue to apply with necessary modifications, in relation to such proceedings or such property or estate, as the case may be.]
32B. 5* Special provision regarding certain Official Trustees affected by States re-organisation.-
The amendments of this Act which come into force on the 1st November, 1956, shall not affect any legal proceedings pending in any Court on that date and where, on account of the reorganisation of States under the States Reorganisation Act, 1956 (37 of 1956), or the Bihar and West Bengal (Transfer of Territories) Act, 1956 (40 of 1956), the whole or any part of a State is transferred to any other State, such transfer of the territory of the State shall not be construed as automatically transferring any property from any Official Trustee to any other Official Trustee; but if, by reason of such transfer of territory, it appears to the Central Government that the whole or any part of the property vested in an Official Trustee, should be vested in another Official Trustee, that Government may direct that the property will be so vested and thereupon it shall vest in that other Official Trustee and his successors as fully and effectually for the purposes of this Act, as if it had been originally vested in him under this Act.]
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