Unclaimed money arising from company liquidations
14 Unclaimed money arising from company liquidations
Money paid or payable to the Treasurer under section 427 of the Companies (New South Wales) Code is to be paid to the Chief Commissioner of State Revenue and dealt with as unclaimed money under this Act.
That money is deemed to be unclaimed money for the purposes of this Act and when paid to the Chief Commissioner is deemed to have been received by the Chief Commissioner under section 10 of this Act.
Money is considered to have been paid or be payable under section 427 of the Companies (New South Wales) Code if it would have been paid or be payable under that section had the Companies (Application of Laws) Act 1981 not been repealed.
This Act’s bill:Explanatory memorandumSecond reading speech
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