Unclaimed Money Act 1990

This Act applies —

to money payable voluntarily to the Treasurer under this Act;

to money which is unclaimed money and is, or may be required to be, paid to the Treasurer under this Act; and

to prescribed retained money, subject to any trust or other specific requirement affecting the disposal of that money which is imposed by the written law by virtue of which that money is to be taken for the purposes of section 9 to be prescribed retained money.

Where a holder pays money to the Treasurer in accordance with this Act, the holder in respect of the money so paid shall, subject to section 7(2), thereafter be relieved of all further liability to any person claiming as owner, notwithstanding that any relevant period of limitation in respect of a claim to which that money relates has not expired.

This Act does not apply to or in relation to money to which —

any of the following provisions of Acts of the Commonwealth apply, namely —

section 53 of the Commonwealth Banks Act 1959;

section 69 of the Banking Act 1959;

section 106 of the Life Insurance Act 1945 ¹;

section 254 of the Bankruptcy Act 1966;

section 12 or 14 of the Superannuation (Unclaimed Money and Lost Members) Act 1999;

a provision of an Act of the Commonwealth prescribed for the purposes of this subsection applies.

Part 2 of this Act does not apply to or in relation to —

money in respect of which the liability for payment, or the amount that is payable, is disputed or not ascertained;

unpresented traveller’s cheques; or

money which —

is an amount of less than $100, or such other amount as may be prescribed; or

has been obtained or dealt with in such a manner, or is of such a kind, as may be prescribed,

This Act binds the Crown.