Abandoned property in general

(1) Subject to sub-section (2), the items listed in paragraphs (a), (b), (c), (d) and (e) which are held or owing by a licensee under this Act shall be presumed to be abandoned upon the passage of ten years from the last date of deposit, payment of funds or issuance of instruments with respect to such item– (a) any general deposit (demand, savings or matured time deposit) made in Belize with a 192 licensee, together with any interest or dividend, but excluding any lawful charges thereon; (b) any sum payable on cheques certified in Belize or on written instruments issued in Belize on which a licensee is directly liable; (c) any contents of a safe-deposit box upon which the lease or rental has expired and concerning which notice of the intention of the licensee to deliver the contents thereof into the custody of the Central Bank has been sent by registered letter to the last known address of the lessee and to which the lessee has failed to respond; (d) any cash contents of a safe-deposit box upon which the lease or rental has expired and concerning which notice of the intention of the licensee to deliver the contents thereof into the custody of the Central Bank has been sent by registered letter to the last known address of the lessee and to which the lessee has failed to respond; and (e) any other item as may be specified by the Central Bank from time to time; (2) The items enumerated in paragraph (a) of sub-section (1) shall not be presumed to be abandoned if the owner has within ten years of the date of deposit or payment of funds, as the case may be– (a) increased or decreased the amount of the deposit or funds or presented the passbook or other record for the crediting of interest in 193 respect of the items enumerated in paragraph (a) of sub-section (1); (b) corresponded in writing with the licensee concerning the items; or (c) otherwise indicated an interest in the items as evidenced by a memorandum concerning them written by the licensee. (3) For the purpose of this section and sections 121 to 125 inclusive, the items enumerated in paragraphs (a), (b), and (d) of sub-section (1) are referred to as “monetary items” and the items enumerated in paragraph (c) are referred to as “non- monetary items”.