Canada Post Corporation Act

Marginal note:Definitions

• 39 (1) In this section,

  deposited amount

  fonds

  deposited amount means an amount that, after the coming into force of this section, is put on deposit with the Corporation or left with the Corporation for transmission by post, but does not include an amount paid to the Corporation on account of services or products to be provided at a future date; (fonds)

  creditor

  créditeur

  creditor means a person to whose credit a deposited amount stands or who is otherwise legally entitled to claim a deposited amount. (créditeur)

• Marginal note:Disposition of unclaimed funds

  (2) Where a deposited amount is less than twenty-five dollars and no transaction has occurred, or statement of account been requested, in relation thereto for a period of thirty years

  • (a) the creditor shall have no claim in respect of the amount; and

  • (b) the amount shall be credited in the Accounts of Canada to the Receiver General on such day as the Minister of Finance may fix.

• Marginal note:Execution of trusts

  (3) Her Majesty, the Corporation and any employee or agent thereof are not bound to see to the execution of any trust, whether express, implied or constructive, to which any deposited amount is subject.

• Marginal note:Discharge

  (4) The receipt of a creditor or, if there is more than one creditor in respect of any one deposited amount, the receipt of any one such creditor is, notwithstanding any trust to which the deposited amount is then subject, a sufficient discharge to all concerned for the payment of any money payable in respect of the deposited amount and Her Majesty, the Corporation and any employee or agent thereof are not bound to see to the application of the money paid on such receipt.