Unclaimed money under written law
21 Unclaimed money under written law
For the purposes of this Part, an amount is unclaimed money if it is, or may be required to be, paid to the Treasurer, or into the Public Account, as unclaimed money under any written law, excluding amounts referred to in Part 2, 3 or 4.
Unclaimed money referred to in subsection (1) is to be paid by the holder to the Treasurer for credit to the Public Account within 12 months of it becoming unclaimed money or, if any other period is provided for in other written law, within that other period.
The holder, on the payment of the unclaimed money referred to in subsection (1), is to provide the Treasurer with a return, relating to that money, in a form approved by the Treasurer.
A holder must not fail to pay to the Treasurer, in accordance with this section, unclaimed money, or fail to provide, in accordance with subsection (3), a return to the Treasurer relating to that money. Fine not exceeding 50 penalty units and, in the case of a continuing offence, a further fine not exceeding 5 penalty units for each day during which the offence continues.
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