Unclaimed Money Act 1995

The amendments authorise the Chief Commissioner to process certain claims for the payment of unclaimed money on behalf of the Treasurer.

Unclaimed money in trust accounts and trust funds under the Legal Profession Act 2004 and the Trustee Companies Act 1964 was previously paid to the Treasurer, who processed claims for the money. The amendment allows claims for, and repayment of, unclaimed money under those Acts to be dealt with by the Chief Commissioner in the same way as claims for other unclaimed money are dealt with under the Unclaimed Money Act 1995.

The amendment enables the Chief Commissioner to publish details of these amounts of unclaimed money and the identity of the owners of the money (if known) in the same way as the Chief Commissioner publishes details of other unclaimed money received under the Act.

The amendments also enable an enterprise that has paid an amount of unclaimed money to the owner of the money, after having paid the same amount to the Chief Commissioner under the Act, to recover that amount from the Chief Commissioner.

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