Financial Sector Reform (Amendments and Transitional Provisions) Act (No. 1) 1999 (44 of 1999)

Schedule 4   Amendment of the Life Insurance Act 1995

50   After subsection 216(14)

Insert:

(14A) It is the intention of the Parliament that a law of a State or Territory has no effect to the extent to which it requires a life company to:

(a) pay unclaimed money to, or to an authority of, a State or Territory; or

(b) lodge a return relating to unclaimed money with, or with an authority of, a State or Territory.