Reports and payment to Central Bank

(1) Every licensee holding any of the items enumerated in section 120 shall within ninety days after the end of its financial year report such holdings to the Central Bank, and pay or deliver to the Central Bank all monetary items and non- monetary items presumed to be abandoned that are listed in the report in such manner as the Central Bank may specify. (2) Upon paying or delivering monetary items and non- monetary items presumed to be abandoned into the custody of the Central Bank, a licensee shall be relieved of all liability for any claim in respect thereof. (3) Notwithstanding sub-section (2), a licensee shall retain all signature cards and signing authorities or copies thereof for five years from the date of such transfer relating to any deposit or instrument in respect of which the licensee has paid an amount to the Central Bank pursuant to sub-section (1) until the Central Bank notifies the licensee that they need no longer be retained. 194 (4) Except with the approval of the Central Bank, on such terms and conditions as it may specify, no reduction in the amount of interest payable and no charges in excess of those made in respect of comparable active accounts shall be made by a licensee either during the period of inactivity with respect to the monetary items referred to in section 120 or at the time payment and delivery of them under sub-section (1) is required. (5) Within thirty days after the end of its financial year but before the filing of the report to the Central Bank required by sub-section (1), a licensee shall publish, in the Gazette and in a newspaper of general circulation in Belize, the name of the owner and particulars concerning the abandoned monetary items and non-monetary items and shall mail a notice to the owner at his last known address containing particulars concerning the abandoned items.