Deposit of sums due to shareholders
137(1)Where money is payable by a company to one of its shareholders as dividend, or by way of distribution of assets, and
(a)
the address of the shareholder is unknown to the company,
(b)
the shareholder refuses to accept the money, or
(c)
for other reasons the company is unable to pay,
the company may deposit the money to the credit of the shareholder with the Minister of Finance and Treasury Board, accompanied by a written statement showing how the money became payable and thereupon the company is released from liability for the money to the shareholder.
137(2)The Minister of Finance and Treasury Board shall keep a separate account of the money deposited under the provisions of this section and shall allow interest at the rate of three per cent per annum on such money remaining on deposit with him for more than six months.
137(3)Such money with any accrued interest shall be paid to the shareholder or his legal representatives upon order of a Judge to be made on proof of the claimant’s right to such money.
R.S., c.33, s.135; O.C. 64-312; 1978, c.D-11.2, s.7; 1986, c.23, s.2; 2002, c.29, s.3; 2019, c.29, s.32