Dormant Funds Act 1942

Notice of proposals under section 11 If the Commissioner has formulated proposals under section 11 in relation to a dormant fund the value of which exceeds $10,000, the Commissioner must publish in the Gazette and in at least one newspaper a notice that—

indicates that proposals have been formulated under this Act in relation to the dormant fund, and

specifies a place where the proposals can be inspected, and

fixes a date (being not earlier than 30 days after the date of publication of the notice in the Gazette) on or before which any person interested in the administration, utilisation or application of the fund may lodge with the Commissioner a request in writing that the Commissioner refer the proposals to the Tribunal, and

specifies an address at which any such request can be lodged.

However, if the value of the dormant fund does not exceed $50,000 and the Commissioner considers that the proposals so formulated are clearly appropriate, the Commissioner may dispense with the publication of the notice in a newspaper. If the Commissioner does so, the Commissioner must send a copy of the notice to the persons who are or were formerly the trustees of the fund (but only in so far as they are still alive and their whereabouts are known to the Commissioner).

For the purposes of subsection (1), a notice may be published in any newspaper circulating throughout the State or, if the dormant fund was established and operated in a particular area of the State only, in any newspaper circulating throughout the State or that area.

Procedure if no request for referral to Tribunal received The following provisions apply if the Commissioner does not receive a request for the proposals to be referred to the Tribunal within the time specified in the notice for the making of such a request—

the Commissioner must forward a copy of the proposals to the Attorney General,

the Attorney General may—

approve the proposals, or

refer the proposals back to the Commissioner for further consideration, or

request that the Commissioner refer the proposals to the Tribunal for its consideration,

the Commissioner must sign the draft order (which then has effect as an order made under this Act) if the Attorney General has approved of the proposals (whether as originally submitted or after they have been referred back for further consideration by the Commissioner).

Procedure if request for referral to Tribunal received The following provisions apply if the Commissioner receives a request for the proposals to be referred to the Tribunal within the time specified in the notice for the making of such a request—

the Commissioner must forward a copy of the proposals to the Attorney General,

the Commissioner must refer the proposals to the Tribunal for its consideration.

Role of Tribunal If proposals are referred to the Tribunal for its consideration, the Tribunal may consider the proposals and any representations that are made to the Tribunal about them by the following persons—

the person at whose request the Commissioner referred the proposals,

the Commissioner,

if the Attorney General did not request the referral—the Attorney General.

The Tribunal may—

approve the proposals, or

vary or amend the proposals, or

formulate new proposals.

The proposals that are finally approved by the Tribunal must be in the form of an order and may make provision with respect to any of the matters referred to in section 11 (2).

A person who has made a request that any proposals be referred to the Tribunal may, at any time before the Tribunal has completed its consideration of the proposals, deliver or send to the Commissioner a request in writing to have the reference withdrawn.

If a reference is withdrawn, the proposals are to be dealt with as if no request for the proposals to be referred to the Tribunal had been received within the time specified in the notice.