146 (1) A credit union is not bound to see to the execution of any trust to which any deposit is subject. Application, payment when credit union has notice of trust (2) Subsection (1) applies whether the trust is express, implied or constructive and applies even when the credit union has notice of the trust if the credit union acts on the order of or under the authority of the holder or holders of the account into which the deposit is made. Note: Section 147 of this Act is not yet in force. It comes into force on a day to be named by proclamation of the Lieutenant Governor. Unclaimed deposits 147 (1) In this section, “transferred unclaimed amount” means an unclaimed deposit that has been paid by a credit union to the Authority, and includes interest, if any accrues; (“somme non réclamée transférée”) “unclaimed deposit” means a deposit that has been made to a credit union and in respect of which no transaction has taken place and no statement of account has been requested or acknowledged by the depositor during a period of 10 years from the day on which the last transaction took place or a statement of account was last requested or acknowledged by the depositor, whichever is later. (“dépôt non réclamé”) Same (2) A credit union shall pay an amount equal to the unclaimed deposits made to it to the Authority in accordance with the Authority rules. Limitation on credit union liability (3) Once a payment has been made under subsection (2), the credit union is discharged from all liability in respect of the amounts paid. Payment by Authority (4) The Authority shall pay transferred unclaimed amounts to a person claiming to be entitled to them upon being furnished with satisfactory evidence of the person’s entitlement to the transferred unclaimed amounts in accordance with the Authority rules. Interest on transferred unclaimed amounts (5) Interest payable on transferred unclaimed amounts shall be determined in accordance with the Authority rules and is payable for the period specified in the Authority rules. Same (6) No interest is payable on transferred unclaimed amounts if the Authority rules so specify. Limitation on Authority liability (7) The Authority is not liable to pay a claim for transferred unclaimed amounts if, (a)  the transferred unclaimed amount is less than $1,000 and at least 40 years have elapsed since the transfer from the credit union to the Authority under subsection (2); or (b)  the transferred unclaimed amount is $1,000 or more and at least 100 years have elapsed since the transfer from the credit union to the Authority under subsection (2). Same, application (8) For greater certainty, subsection (7) applies in respect of transferred unclaimed amounts paid to the Authority before that subsection comes into force. Amounts to be paid to Minister (9) The Authority shall pay into the Consolidated Revenue Fund an amount equal to any transferred unclaimed amounts that the Authority is not liable to pay a claim for under subsection (7) within two months from the end of the applicable time limit set out in that subsection and no claim may be made in respect of those amounts paid into the Consolidated Revenue Fund. Unclaimed amounts database (10) The Authority shall, for the purpose of allowing the public to search for transferred unclaimed amounts, (a)  maintain a searchable database of transferred unclaimed amounts; (b)  include in the database such information as the Authority considers appropriate in respect of each transferred unclaimed amount; and (c)  publish and maintain an up-to-date version of the database on the website of the Authority. Same, no liability (11) The Authority is not liable for any loss, cost or damage suffered by any person as a result of any information included in or omitted from the database unless the inclusion or omission was in bad faith. Application despite other Act (12) This section applies despite the provisions of any other Act that would apply with respect to the disposition of an unclaimed and unpaid amount on deposit and the provisions of any such other Act shall not apply with respect to such an amount. Debt Obligations