101.   Guardian's Fund continued

            (1) There shall continue to be the Guardian's Fund and shall consist of all moneys-

     (a)     in that fund at the commencement of this Act;

     (b)     received by the Master under this Act or any other law or in pursuance of an order of court; or

     (c)     accepted by the Master in trust for any known or unknown person.

            (2) Whenever any such money is received by the Master he shall forthwith transmit that money to the Accountant-General who shall open in the books of the Guardian's Fund an account with the person to whom or the estate to which that money belongs:

            Provided that if it is not known to whom any such money belongs or if, in the case of minor heirs, it is more convenient, the account may be opened in the name of the estate from which that money is derived.

            (3) The Guardian's Fund shall, subject to any directions that may be given by the Master in accordance with this Part, be administered by the Accountant-General.

102.   Statements of unclaimed moneys to be published, and amounts to be paid into Guardian's Fund

            (1) Every person carrying on business within Botswana shall in the month of January in each year prepare and publish as hereinafter provided a detailed statement of all moneys amounting to P1 and upwards which were in his hands or in the hands of an agent on his behalf within Botswana on 31st December immediately preceding and which were not his property or subject to any valid lien, but at the date of the publication of the said statement have remained unclaimed for a period of five years or more by the rightful owner.

            (2) That statement shall as far as practicable set forth the full name and last known address of each of the owners aforesaid and shall be signed by the person carrying on business or some responsible person on his behalf and shall be published in the Gazette.

            (3) Every such person or his agent shall make an affidavit in Form E set out in the First Schedule and shall as soon as may be after the publication of the statement, transmit the same together with the evidence of its publication and the said affidavit, to the District Commissioner of the district in which is situate the head or principal office of the business, together with a true copy thereof and the District Commissioner shall cause the copy to be compared with the original and if necessary corrected, authenticate that copy with his signature, and transmit the original forthwith to the Master.

            (4) If default is made in complying with any provision of subsection (3) the statement shall be deemed not to have been published.

            (5) After the expiration of three months from the date of such publication, all such moneys still remaining unclaimed shall, after deduction of the cost of publication apportioned as far as possible among the owners, be deposited forthwith in the Guardian's Fund; and, subject to the provisions of this Act, all such unclaimed moneys shall be held by the Accountant-General for account of the rightful owners.

            (6) If any person fails to publish the statement mentioned in this section or to pay into the Guardian's Fund any moneys which under this section ought so to be paid, as and when the same ought respectively to be published or paid, then every person having the custody or control of such moneys or, in the case of an association of persons other than a partnership, the secretary and every director thereof within Botswana or in the case of a partnership, every member thereof within Botswana shall be liable to a fine not exceeding P1000 or to imprisonment for a term not exceeding 12 months, or to both.

            (7) If default is made in publishing the statement, or in paying such money into the Guardian's Fund within a period to be fixed by the court, the person liable for the default may be adjudged guilty of contempt of court and dealt with accordingly.

103.   Interest on certain moneys in Guardian's Fund

            Interest at the rate of four per cent per annum or at such rate as may from time to time be fixed by the Minister responsible for finance by order published in the Gazette shall be allowed on the principal of every sum of money received by the Master for account of any minor, mental patient or unborn heir or, if the Minister so directs, on account of any other person, from the first day of the month following that in which the money has been so received and until the amount becomes legally claimable:

            Provided that on 31st March in each year the interest that has become due on any moneys shall be added to the capital in the books of the Guardian's Fund, and in case such interest is not drawn by the person entitled thereto previous to 31st March following interest shall be allowed on the accumulated sum.

104.   Guardian's Fund to be available for investment

            The Guardian's Fund shall be deemed to be money available for investment which may be received for or on account of the Government, and the Accountant-General may from time to time at the direction of the Master withdraw, for the purpose of paying any amounts due and payable by the Guardian's Fund, any part of the working balances which are retained at the Master's disposal.

105    Ordinary payments from Guardian's Fund

            The Master shall direct the Accountant-General to pay any sum of money standing to the credit of any person or estate in the books of the Guardian's Fund to the person by law entitled to receive the same:

            Provided that the parent of a minor child having money deposited in the Guardian's Fund shall not be entitled to receive a greater amount of the interest due thereon than in the opinion of the Master has been reasonably necessary for the support and advancement in life of the minor, regard being had to his circumstances and condition in life.

106.   Extraordinary payments from Guardian's Fund

            (1) If after careful enquiry it appears to the Master to be for the interest of any minor, the Master may direct the Accountant-General to pay for the maintenance, education, or other benefit of that minor an amount which may be standing to his credit but this amount so paid shall not, without the sanction of the court, exceed P4000 in all.

            (2) Whenever it appears to the Master that the interest upon any amount standing in the Guardian's Fund to the credit of a mental patient is not sufficient adequately to provide for the maintenance and treatment of the mental patient, the Master may direct the Accountant-General to pay for those purposes so much of the capital as, regard being had to the circumstances of the mental patient and of the persons dependent upon him, appears to the Master to be just and reasonable.

            (3) The Master may, after consulting the guardian, direct the Accountant-General to pay to a person nominated by the Master from the working balances referred to in section 104 any sum of money belonging to a minor for the purchase of immovable property within Botswana, if he is satisfied that such purchase will be to the benefit of the minor.

            (4) Nothing contained in this section shall authorize the Master to disregard the terms of any valid will or other deed.

107.   List of unclaimed moneys to be published annually

            (1) The Accountant-General shall in the month of July in each year cause to be drawn up a list of all amounts standing in the books of the Guardian's Fund which are claimable and are unclaimed, shall cause the same to be inserted in the Gazette, and shall forthwith transmit two or more copies thereof to the Master, who may cause the said list or any portion thereof to be published in such manner as he deems most expedient in any country or countries to which any person or persons interested may be supposed to belong.

            (2) In the advertisements all persons shall be invited to submit their claims to the Master:

            Provided that no amount which is less than P100 need be advertised more often than once in every five years.

108.   Lapse to the State of moneys unclaimed for 30 years

            When any money which has been placed to the credit of any person or estate in the Guardian's Fund remains unclaimed by any person having a just and lawful right thereto for a period of 30 years from the date when the same was so placed to credit or in the case of a minor, from the date when he attains his majority, the claim shall lapse and the money shall become forfeited to the State and may be appropriated as part of the revenue of Botswana.