Section 1 definitions "administration agreement", "administrator" and "charitable purposes" were added by 2003-9-1(a), effective March 31, 2003 (BC Reg 149/2003).
Section 1 definition "property" paragraph (g) BEFORE repealed by 2003-9-1(b), effective March 31, 2003 (BC Reg 149/2003).
(g) the right to a refund of an amount paid in respect of an unused airline ticket or other transportation ticket, or
Section 1 definition "special account" BEFORE repealed by 2003-9-1(c), effective March 31, 2003 (BC Reg 149/2003).
"special account" means the Unclaimed Property Special Account established under section 7;
Section 1 definition "unclaimed money deposit" BEFORE amended by 2003-9-1(d), effective March 31, 2003 (BC Reg 149/2003).
"unclaimed money deposit" means money that
(a) has become an unclaimed money deposit under section 2,
(b) has been transferred to the minister under section 12, or
(c) has been deemed under the Unclaimed Money Act, R.S.B.C 1996, c. 467, or under any other enactment to be an unclaimed money deposit;
Section 1 definition "holder" BEFORE amended by 2003-82-1(a), effective November 17, 2003 (Royal Assent).
"holder" means
(a) a corporation, partnership, sole proprietorship, association, society, fraternal or mutual benefit organization or other entity, whether or not operated for profit, that holds property on behalf of an owner, or
(b) an individual who holds property on behalf of an owner and who is one of a prescribed class of individuals,
and includes a government body as defined in the Financial Administration Act, but does not include the government or the Public Guardian and Trustee;
Section 1 definition "unclaimed court funds" was added by 2003-82-1(b), effective November 17, 2003 (Royal Assent).
Section 1 definition "unclaimed money deposit" BEFORE amended by 2003-82-1(c), effective November 17, 2003 (Royal Assent).
"unclaimed money deposit" means money that
(a) has become an unclaimed money deposit under section 2,
(b) has been transferred to the administrator under section 12, or
(c) has been deemed under any other enactment to be an unclaimed money deposit,
but does not include any money provided to the administrator under the administration agreement that is, by that agreement, expressly determined not to constitute an unclaimed money deposit;
Section 1.1 BEFORE amended by 2019-12-22, effective May 16, 2019 (Royal Assent).
Application
1.1 This Act does not apply to money or property in respect of which, under section 14.04 (1) (b) (iv) or 23.1 of the Civil Forfeiture Act, the director under that Act serves notice of forfeiture under Part 3.1 of that Act or notice of intent to commence proceedings, as the case may be, on a public body that has possession of the money or property, unless
(a) that notice is withdrawn under section 14.08 (a) or 23.1 (4) (a) (ii) of that Act, or
(b) in the case of notice of intent to commence proceedings, the 30 day period referred to in section 23.1 (4) (a) of that Act expires and no proceedings are commenced under section 3 of that Act in relation to the money or property.
Section 1.1 was renumbered as section 1.1 (1) and subsection (2) was added by 2024-13-268, effective April 25, 2024 (Royal Assent).
Section 1.1 (1) BEFORE amended by RS2024-1-RevSch 2, effective June 17, 2024 (BC Reg 151/2024).
(1) This Act does not apply to money or property in respect of which, under section 14.04 (1) (b) (iv) or 23.01 of the Civil Forfeiture Act, the director under that Act serves notice of forfeiture under Part 3.1 of that Act or notice of intent to commence proceedings, as the case may be, on a public body that has possession of the money or property, unless
(a) that notice is withdrawn under section 14.08 (a) or 23.01 (4) (a) (ii) of that Act, or
(b) in the case of notice of intent to commence proceedings, the 30 day period referred to in section 23.01 (4) (a) of that Act expires and no proceedings are commenced under section 3 of that Act in relation to the money or property.
Section 3 BEFORE amended by 2003-9-3, effective March 31, 2003 (BC Reg 149/2003).
3 If the amount of an unclaimed money deposit meets or exceeds the amount prescribed for the purposes of this section, the minister must make reasonable efforts to locate the owner and to notify the owner about the money.
Section 3 BEFORE re-enacted by 2003-82-2, effective November 17, 2003 (Royal Assent).
Duty of administrator to make reasonable efforts to locate and notify owners
3 If the amount of an unclaimed money deposit meets or exceeds the amount prescribed for the purposes of this section, the administrator must make reasonable efforts to locate the owner and to notify the owner about the money.
Section 4 BEFORE amended by 2003-9-4(a) to (e), effective March 31, 2003 (BC Reg 149/2003).
4 The minister must
(a) maintain an electronic or other database of unclaimed money deposits,
(b) include in the electronic or other database the prescribed particulars for each unclaimed money deposit that meets or exceeds the prescribed amount, and
(c) make the electronic or other database available to the public, subject to any restrictions imposed by regulation for the purpose of protecting the privacy of owners.
Section 4.2 (3) BEFORE amended by 2003-82-3(a), effective November 17, 2003 (Royal Assent).
(3) The administrator must consider the claim within a reasonable period and must, within that period,
Section 5 BEFORE amended by 2003-9-6, effective March 31, 2003 (BC Reg 149/2003).
Payment of claims
5 (1) If satisfied that a person is the owner of all or part of the money that became an unclaimed money deposit, the minister must pay out of the special account to the owner an amount equal to that deposit or that part of the deposit, as the case may be.
(2) No interest or other earning accrues or is payable to an owner in respect of the period after money becomes an unclaimed money deposit.
(3) A payment made under this section to an owner discharges the government from liability to the owner in respect of the money that became the unclaimed money deposit, but only to the extent of the payment.
(4) The minister may delegate any of the minister's functions under this section to an employee of the ministry.
Section 5.1 (4) BEFORE amended by 2023-10-1145, effective March 30, 2023 (Royal Assent).
(4) If, under the appeal process or the application to the court, it is determined that the claimant is entitled to an amount, or an additional amount, on his or her claim, the administrator must promptly pay to the claimant that amount plus the interest and other income that was earned by the administrator on that amount from the date that the appeal was commenced to the date of the payment of the amount to which the claimant was found to be entitled.
Section 6 BEFORE amended by 2003-9-6, effective March 31, 2003 (BC Reg 149/2003).
Access to information and retention of records
6 (1) The minister has the right to any information that
(a) is in the custody or control of a public body, and
(b) may assist in locating a person for the purposes of this Act.
(2) A public body that has custody or control of information to which the minister is entitled under subsection (1) must disclose that information to the minister on request.
(3) A public body must meet the standards, set by regulation, respecting
(a) the collection and recording of information concerning any money that becomes an unclaimed money deposit, and
(b) the retention of records containing that information.
Section 7 BEFORE amended by 2003-9-6, effective March 31, 2003 (BC Reg 149/2003).
Special account
7 (1) An account, called the Unclaimed Property Special Account, is established as a special account of the consolidated revenue fund.
(2) The special account consists of
(a) an opening balance of a prescribed amount, and
(b) money paid into the account under subsections (3) and (6).
(3) The following must be paid into the special account:
(a) all money that, after the coming into force of this section, becomes or is deemed to be an unclaimed money deposit;
(b) all money transferred to the minister under section 12 and all fees paid under that section.
(4) In addition to money paid out under section 5, all costs associated with the administration of this Act and the regulations may be paid out of the special account.
(5) At the beginning of each fiscal year of the government, the balance in the special account equals the prescribed amount of the opening balance.
(6) If, at any time, the amount in the special account is insufficient to meet the payments to be made under this section, the minister may increase the amount in the special account to a sum that, in the minister's opinion, is sufficient to allow those payments to be made.
Section 7.2 BEFORE amended by 2003-82-4, effective November 17, 2003 (Royal Assent).
7.2 The administrator must retain the prescribed records and information in the prescribed form, at the prescribed place and for the prescribed period.
Section 8 BEFORE amended by 2003-9-6, effective March 31, 2003 (BC Reg 149/2003).
Application of this Part
8 This Part applies to a holder of property
(a) if, according to the holder's records, the last known address of the owner is in British Columbia and the transaction from which the property arose was entered into or arranged after the coming into force of this section, or
(b) if the owner's address is unknown and the transaction from which the property arose was entered into or arranged in British Columbia after the coming into force of this section.
Section 8 (2) was added after renumbering the above (1) by 2003-9-6, effective March 31, 2003 (BC Reg 149/2003).
Section 11 BEFORE amended by 2003-9-7(a) to (d), effective March 31, 2003 (BC Reg 149/2003).
Duties of holders of unclaimed property
11 A holder of unclaimed property must do all of the following:
(a) maintain an electronic or other database of all unclaimed property held by the holder;
(b) include in the electronic or other database the prescribed particulars for each item of unclaimed property;
(c) make the electronic or other database available to the public, subject to any restrictions imposed by regulation for the purpose of protecting the privacy of owners;
(d) meet the standards, set by regulation, respecting
(i) the collection and recording of information concerning the unclaimed property, and
(ii) the retention of records containing that information;
(e) meet the standards, set by regulation, respecting
(i) the processing of claims, and
(ii) the management or control of the unclaimed property.
Section 11 (1) (b.1) was added after renumbering the above (1) by 2003-9-7(e), effective March 31, 2003 (BC Reg 149/2003).
Section 11 (2) was added after renumbering the above (1) by 2003-9-7(f), effective March 31, 2003 (BC Reg 149/2003).
Section 12 BEFORE amended by 2003-9-8, effective March 31, 2003 (BC Reg 149/2003).
Voluntary transfer of unclaimed property to the minister
12 (1) A holder may transfer unclaimed property to the minister if the following conditions are met:
(a) that property is money;
(b) the holder provides the minister with any information relating to the property that may reasonably be requested by the minister;
(c) the minister consents to the transfer.
(2) The minister's receipt for unclaimed property transferred by a holder under subsection (1) is an effective discharge to the holder for that property.
Section 15 (1) BEFORE amended by 2003-9-9, effective March 31, 2003 (BC Reg 149/2003).
(1) For the purposes of this Act, the minister may request a holder of property to do either or both of the following in respect of the property:
(a) submit to the minister records in the holder's custody or control;
(b) provide information to the minister, within the time or at the intervals specified in the request.
Section 16 (1) (b) and (c) BEFORE amended by 2007-14-215,Sch, effective December 1, 2007 (BC Reg 354/2007).
(b) fails to maintain a record required under this Act or the regulations;
(c) in a record required or submitted, or in information provided, under this Act or the regulations, makes a statement that
Section 17 (2) (c.1), (f.1) and (g.1) were added by 2003-9-11(a), effective March 31, 2003 (BC Reg 149/2003).
Section 17 (2) (d) BEFORE amended by 2003-9-11(b), effective March 31, 2003 (BC Reg 149/2003).
(d) prescribing amounts for the purposes of sections 3, 4, 7 (2) (a) and 9 (1) (b);
Section 17 (2) (f) BEFORE amended by 2003-9-11(c), effective March 31, 2003 (BC Reg 149/2003).
(f) prescribing the particulars that, under sections 4 (b) and 11 (b), are to be included in databases, and governing restrictions on access to those databases for the purpose of protecting the privacy of owners;
Section 17 (2) (g) BEFORE amended by 2003-9-11(d), effective March 31, 2003 (BC Reg 149/2003).
(g) governing the standards to be met under section 6 (3) by public bodies and under section 11 (d) by holders of unclaimed property;
Section 17 (2) (l) BEFORE repealed by 2003-9-11(e), effective March 31, 2003 (BC Reg 149/2003).
(l) authorizing holders to transfer to the minister any of their duties under section 11 (c) respecting the unclaimed property database and specifying the conditions and effect of the transfer;
Section 17 (2) (m) and (n) BEFORE amended by 2003-9-11(f) and (g), effective March 31, 2003 (BC Reg 149/2003).
(m) governing the standards to be met under section 11 (e) by holders of unclaimed property;
(n) prescribing fees payable to the minister in respect of transfers of unclaimed property under section 12 (1);