Disposal of surplus proceeds of sale

(1) Any surplus moneys arising on any sales under this Act, after payment of the tax, fines and costs, shall be paid by the Chief Collector to the owner of the property sold, if known, and if not known, then they shall be at the disposal of the Minister on the application of any person entitled for six years from the day of sale, after which they shall be appropriated to the Consolidated Revenue Fund. (2) If the Chief Collector has notice that any person other than the owner of the property sold has a claim to the surplus moneys or any part thereof either by way of mortgage or other legal encumbrance, the Chief Collector may send to the said owner, by post, a letter addressed to him at his last known place of abode stating that the moneys or some specified part thereof, will be paid to such claimant, mortgagee or encumbrancer, unless the owner informs the Chief Collector within ten days from the date of the said letter that he does not admit the said (3) If no reply is received from the owner within the time specified in sub-section (2) of this section, the surplus moneys, or such part thereof as specified in the said letter, may be paid to the claimant by the Chief Collector. (4) If the owner denies the claim, the Chief Collector shall pay the surplus moneys to the Registrar of the Supreme Court, to be placed by the latter to the credit of an account in court, to 63 abide the settlement by the court of the question as to what person is entitled to it. (5) The Chief Collector shall not be held responsible for any payment made by him under this section.