Chapter 6:01
ADMINISTRATION OF ESTATES
indicate the person who forwarded the amount concerned to the
Master.
(4) This section shall apply to all amounts held by the Master in the
Guardian’s Fund, whether received by him before, on or after the
29th December, 1978, and all advertisements in the Gazette made in
respect of such amounts before that date shall be deemed to be
notices for the purposes of subsection (2).
105 Prescription of claims to moneys in Guardian’s Fund
Any claim to moneys in the Guardian’s Fund. whether they were
paid into that Fund before, on or after the 29th December, 1978,
shall be made within a period of thirty years—
(a) in the case of any amount paid into the Guardian’s Fund
because it has not been claimed by the owner, from the date of
payment of the amount into the Guardian’s Fund;
(b) in the case of any other moneys, from the date upon which the
person concerned became entitled to claim the amount;
and on the expiration of that period the debt shall be extinguished by
prescription and the moneys concerned paid into the Consolidated
Revenue Fund:
Provided that this section shall not preclude any claims being
made before the 1st January, 1980, and no debt shall be prescribed
in terms of this section before that date.
106 Investment of moneys to credit of Guardian’s Fund
(1) The Master shall, from time to time and as soon as he finds
opportunity to do so, invest moneys standing to the credit of the
Guardian’s Fund which are not required to meet the current
expenditure of the Guardian’s Fund in any of the following—
(a) on mortgage of immovable property;
(b) in Treasury bills;
(c) on deposit with the Treasury;
(d) in locally registered securities which are—
(i) issued by the State, a municipal council constituted under
the Urban Councils Act [Chapter 29:15] or a statutory
corporation established by a law in force in Zimbabwe; or
(ii) guaranteed by the State;
(e) with the Post Office Savings Bank;
(f) with an accepting house, commercial bank, discount house or
financial institutionfinance house registered as such under the
Banking Act [Chapter 24:201];
[Paragraph amended by s. 82 of Act 9/1999.]
(g) in shares in or on deposit with a building society registered
under the Building Societies Act [Chapter 24:02];
(h) in savings certificates issued in terms of the Savings Certificates
Act [Chapter 22:12];
(i) in any other security approved by the Minister and the Minister
responsible for finance.
September 2000-09-27
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