Previously, No Requirement To Holding Institutions To Declare Assets As Unclaimed

Before the enactment of The Unclaimed Financial Assets Act 2011, there were no law requiring holding institutions to declare assets they held as unclaimed financial assets. The law has classified unclaimed financial assets in different categories, precondition and different time lines required for the assets to be declared unclaimed financial assets. This accounts could fall dormant due change of address, migration, change of company name, collapse or change in corporate structures, name change after marriage or divorce, owners are deceased, beneficiaries are not aware of its existence, passage of time, undisclosed investments, missing records, secret accounts savings etc Search for your assets