Governance Review Implementation (Treasury Portfolio Agencies) Act 2007 (74 of 2007)
Schedule 1 Amendments
Part 1 ASIC
Corporations Act 2001
37 Subsections 1341(1) and (2)
Repeal the subsections, substitute:
(1) If an amount is not debited from the Companies and Unclaimed Moneys Special Account in accordance with this section within 6 years after that amount was originally credited to the Account under subsection 1339(2), that amount must be debited from the Account.
Note: Despite being debited from the Companies and Unclaimed Moneys Special Account, the amount remains part of the Consolidated Revenue Fund.
(a) a person claims to be entitled to an amount credited to the Companies and Unclaimed Moneys Special Account under subsection 1339(2); and
(b) ASIC is satisfied that the person is entitled to that amount;
(c) unless paragraph (d) applies - pay the amount to the person and debit that amount from the Account; or
(d) if the amount has already been debited from the Account under subsection (1) - pay the amount to the person out of money appropriated by the Parliament for the purpose.
Note: The heading to section 1341 is replaced with the following heading Entitlement to unclaimed property .
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