{"id":"F1996B00325","name":"Banking (Unclaimed Moneys) Regulations","slug":"banking-unclaimed-moneys-regulations","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":"378 of 1993","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":28578,"registerId":"commonwealth-F1996B00325-current","compilationNumber":null,"startDate":"2026-04-01","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Banking (Unclaimed Moneys) Regulations","content":"Statutory Rules 1993 No. 378 1\n\n\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\n\nBanking (Unclaimed Moneys) Regulations\n\nI, The Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Banking Act 1959.\n\nDated 22 December 1993.\n\nBILL HAYDEN\n\nGovernor-General\n\nBy His Excellency’s Command,\n\nJOHN DAWKINS\n\nTreasurer\n\n\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\n\nCitation\n\n1. These Regulations may be cited as the Banking (Unclaimed Moneys) Regulations.\n\n> Note: \\[NOTE: These Regulations commence on gazettal: see Acts Interpretation Act 1901, s. 48.\\]\n\nInterpretation\n\n2. (1) In these Regulations, unless the contrary intention appears:\n\n“the Act” means the Banking Act 1959.\n\nPrescribed amount\n\n3. (1) For the purposes of subsection 69 (3) of the Act, the amount of $500 is prescribed.\n\n\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\n\nNOTE\n\n> Note: 1. Notified in the Commonwealth of Australia Gazette on 31 December 1993.","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1626},"content_quality":"ok","complexity_score":1,"scope_assessment":{"changed":false,"description":"This 1993 regulation represents the original instrument. Its scope remains tightly confined to the single purpose of setting the prescribed amount for subsection 69(3) of the Banking Act 1959, consistent with its original intent."},"complexity_factors":["Only 3 sections total, with just 1 substantive provision","Single operational clause prescribing only a dollar figure ($500)","Minimal definitions (only 'the Act' defined)","No conditional logic, exceptions, or procedural requirements","No internal cross-references beyond citation of parent Act section"],"plain_english_summary":"These regulations set a **$500 threshold** for handling unclaimed bank money under the Banking Act 1959.\n\nThe regulation prescribes $500 as the specific dollar amount used in subsection 69(3) of the Act. In practical terms, this figure acts as a cutoff point that determines when certain legal rules apply to bank accounts or deposits that haven't been touched by their owners for a long time (dormant accounts).\n\n**Who it affects**: Banks, building societies, and credit unions holding unclaimed money, as well as customers with inactive accounts.\n\n**Why it matters**: It establishes the monetary trigger for banks' obligations to report, transfer, or deal with unclaimed funds—money sitting in accounts that owners appear to have forgotten about."}},"importantCases":[],"_links":{"self":"/api/acts/banking-unclaimed-moneys-regulations","history":"/api/acts/banking-unclaimed-moneys-regulations/history","analysis":"/api/acts/banking-unclaimed-moneys-regulations/analysis","conflicts":"/api/acts/banking-unclaimed-moneys-regulations/conflicts","importantCases":"/api/acts/banking-unclaimed-moneys-regulations/important-cases","documents":"/api/acts/banking-unclaimed-moneys-regulations/documents"}}