Unclaimed Money Act 2015

This Part applies to all principal and interest money, and all dividends, bonuses, profits and sums of money, which are held or owing by – any company which is registered or incorporated in this State; and any person, firm, body or institution carrying on business as traders and having their principal office or place of business in this State; and a State entity – excluding amounts referred to in Part 3, 4 or 5.

For the purposes of this Part, an amount is unclaimed money if – a period of 12 months has passed since the day the amount became payable to the owner; and no claim has been made by the owner against the holder; and the amount is, in relation to the holder, the relevant minimum amount.

For the purposes of subsection (2)(c), the relevant minimum amount, in relation to a holder, is – $50; or if another relevant minimum amount is determined in relation to the holder under subsection (4)(b) – that amount; or if another relevant minimum amount is determined in relation to holders generally under subsection (4)(a) and there is no relevant minimum amount determined under subsection (4)(b) in relation to the holder – the amount determined under subsection (4)(a).

The Treasurer may – by notice, determine a relevant minimum amount, in relation to holders generally, for the purposes of subsection (2)(c); or by written notice given to a holder, determine a relevant minimum amount, in relation to the holder, for the purposes of subsection (2)(c).

The Treasurer may, by written notice given to a holder, determine that this Part, or any specified provision of this Part, does not apply to the holder.

The Treasurer may, by written notice given to a person or entity not specified in subsection (1), determine that this Part, or any specified provision of this Part, will apply to that person or entity.