Certain undisbursed amounts to be utilised for welfare of seafarers.

Any amount deposited with or recovered by the shipping master as wages or for making payment in accordance with the allotment note made by a seafarer or for being paid to a seafarer or his nominee may, if such amount remains unclaimed with the shipping master for a period of not less than six years, be utilised for the welfare of seafarer in such manner and subject to such restrictions and conditions as may be prescribed.