CCH Note:
Part 13 of the
Corporations Act 1989, inserted
by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as
follows:
PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW
82
The Corporations Law is as follows:...
CHAPTER 9 - MISCELLANEOUS
PART 9.7 - UNCLAIMED PROPERTY
SECTION 1341
DISPOSITION OF MONEY IN UNCLAIMED MONEY ACCOUNT
History
Title of s 1341 amended by No 104 of 1994 (effective 15 July 1994).
1341(1)
[Payment into Consolidated Revenue]
If money is not paid out of an unclaimed money account in accordance with this section or subsection
1339(3) within 6 years after it was originally paid into such an account under subsection
1339(2), it must be paid into the Consolidated Revenue Fund.
History
S 1341(1) substituted by No 104 of 1994, Sch 7, Pt 2 (effective 15 July 1994).
1341(2)
[Payment of claim against account]
If:
(a)
a person claims to be entitled to money paid into an unclaimed money account under subsection
1339(2); and
(b)
the Commission is satisfied that the person is entitled to the money;
the Commission must:
(c)
unless paragraph (d) applies - pay the money to the person out of the relevant unclaimed money account; or
(d)
if the money has been paid into the Consolidated Revenue Fund under subsection
(1) - pay an equivalent amount to the person out of money appropriated by the Parliament for the purpose.
History
S 1341(2) substituted by No 104 of 1994, Sch 7, Pt 2 (effective 15 July 1994).
1341(3)
[Appeal to Court from Commission's decision]
A person who is dissatisfied with the decision of the Commission in respect of a claim made by the person in accordance with subsection
(2) may appeal to the Court and the Court may confirm, disallow or vary the decision of the Commission.
History
S 1341(3) amended by No 104 of 1994, Sch 7, Pt 2 (effective 15 July 1994).
1341(4)
[Money paid in error]
Where a person claims to be entitled to money that has been paid to another person in accordance with this section, the Commission is not under any liability to that first-mentioned person in respect of that money, but, if the first-mentioned person is entitled to that money, that person may recover that money from the other person.
History
S 1341(4) amended by No 104 of 1994, Sch 7, Pt 2 (effective 15 July 1994).
1341(5)
[Money appropriated by Parliament paid in error]
Where a person claims to be entitled to money, being money an amount equivalent to which has been paid to another person in accordance with subsection
(2) out of money appropriated by the Parliament for the purpose, the Commission is not under any liability to that first-mentioned person in respect of that money, but, if the first-mentioned person is entitled to that money, that person may recover that equivalent amount from the other person.
History
S 1341(5) amended by No 104 of 1994, Sch 7, Pt 2 (effective 15 July 1994).
1341(6)
(Omitted by No 110 of 1990, Sch 1 (effective 18 December 1990).)
View history note
Hide history note