Treasury Legislation Amendment (Unclaimed Money and Other Measures)Act 2012 (176 of 2012)

Schedule 1   Banking

Banking Act 1959

4   After subsection 69(1A)

Insert:

(1B) However, moneys to the credit of an account specified in the regulations are unclaimed moneys if, and only if, the conditions specified in the regulations are satisfied.

Note: For specification by class, see subsection 13(3) of the Legislative Instruments Act 2003.

(1C) However, deposits specified in the regulations are unclaimed moneys if, and only if, the conditions specified in the regulations are satisfied.

Note: For specification by class, see subsection 13(3) of the Legislative Instruments Act 2003.

(1D) Subsection (1) does not apply to an account specified in the regulations.

Note: For specification by class, see subsection 13(3) of the Legislative Instruments Act 2003.

(1E) Subsections (1) and (1A) do not apply to a deposit specified in the regulations.

Note: For specification by class, see subsection 13(3) of the Legislative Instruments Act 2003.

4A Subsection 69(3)

After "sums of unclaimed moneys", insert "as at the end of the year".

4B Subsection 69(3)

Omit "higher", substitute "other".