(1) Save as otherwise provided in this Act, an escheat or a bona vacantia may be disposed of-
(a) by the Government irrespective of its value;
(b) by the competent authority, where its value does not exceed ten thousand rupees;
(c) by the local officer, where its value does not exceed two thousand rupees;
(2) The power to dispose of an escheat or bona vacantia under sub-section (1) shall include the powers,-
(i) to decide whether the claim of the Government should be asserted and the property taken into custody;
(ii) to make equitable disposition of property which devolves by escheat;
(iii) to take charge of the property to which the claim of the Government has been asserted and to arrange for its care and maintenance during the period when it is in their custody.
Powers of disposal of escheat or bona vacantia.
4 [Act No. 35 of 1974]
CHAPTER-III DECLARATION OF PROPERTY AS AN ESCHEAT OR A Bona Vacantia AND ITS DISPOSAL
7. Whenever the local officer receives information from any source that any property of the nature of an escheat or a bona vacantia is situated or lying within his jurisdiction, he shall cause an inquiry to be made in respect thereof.