First Home Saver Accounts (Further Provisions) Amendment Act 2008 (92 of 2008)
Schedule 2 Amendments commencing the day after Royal Assent
First Home Saver Accounts Act 2008
12 At the end of Division 1 of Part 2
Add:
17A Meaning of unclaimed money
The balance of an FHSA held by a person is unclaimed money in relation to the person if:
(a) no contributions have been made to, and no payments (other than a payment of a kind mentioned in paragraph 31(1)(f), (g) or (h)) have been made from, the FHSA for a period of at least 7 years; and
(b) after the end of that period the FHSA provider has been unable to contact the person after making reasonable efforts.
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