{"id":"companies-unclaimed-assets-and-moneys-act-1963","name":"Companies (Unclaimed Assets and Moneys) Act 1963","slug":"companies-unclaimed-assets-and-moneys-act-1963","collection":"act","jurisdiction":"nt","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":29934,"registerId":"nt-companies-unclaimed-assets-and-moneys-act-1963-current","compilationNumber":null,"startDate":"2026-04-01","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Companies (Unclaimed Assets and Moneys) Act 1963","content":"NORTHERN TERRITORY OF AUSTRALIA\nCOMPANIES (UNCLAIMED ASSETS AND MONEYS) ACT 1963\nAs in force at 21 December 2022\nTable of provisions\nPart I Preliminary\n1 Short title ......................................................................................... 1\n2 Commencement .............................................................................. 1\n4 South Australian Act to cease to apply ............................................ 1\n5 Definitions ........................................................................................ 1\nPart II Unclaimed assets in hands of liquidators\n6 Unclaimed assets in hands of liquidator .......................................... 2\n7 Payments to persons entitled .......................................................... 2\nPart III Unclaimed moneys\n8 Interpretation ................................................................................... 3\n9 Register of unclaimed moneys to be kept ........................................ 3\n10 Copy of register to be gazetted........................................................ 4\n11 Penalty ............................................................................................ 4\n12 Unclaimed moneys to be paid to the Treasurer ............................... 4\n13 Penalty for neglect to pay unclaimed moneys ................................. 4\n14 Treasurer may examine accounts, &c. ............................................ 4\n15 Treasurer to pay lawful claimant ...................................................... 5\n17 Part not to apply to certain unclaimed moneys ................................ 5\nSchedule 1\nSchedule 2\nENDNOTES\n\n\n\nNORTHERN TERRITORY OF AUSTRALIA\n____________________\nAs in force at 21 December 2022\n____________________\nCOMPANIES (UNCLAIMED ASSETS AND MONEYS) ACT 1963\nAn Act relating to unclaimed assets in the hands of liquidators of\ncompanies and unclaimed moneys held by companies\nPart I Preliminary\n1 Short title\nThis Act may be cited as the Companies (Unclaimed Assets and\nMoneys) Act 1963.\n2 Commencement\nThis Act shall come into operation on the day on which the\nCompanies Ordinance 1963 comes into operation.\n4 South Australian Act to cease to apply\nThe Unclaimed Moneys Act, 1891 of the State of South Australia\nshall cease to apply in the Territory as a law of the Territory.\n5 Definitions\nIn this Act:\ncompany means:\n(a) a company incorporated or taken to be incorporated under the\nCorporations Act 2001; or\n(b) a co-operative registered under the Co-operatives (National\nUniform Legislation) Act 2015.\nNote for section 5\nThe Interpretation Act 1978 contains definitions and other provisions that may be\nrelevant to this Act.\n\nPart II Unclaimed assets in hands of liquidators\nCompanies (Unclaimed Assets and Moneys) Act 1963 2\nPart II Unclaimed assets in hands of liquidators\n6 Unclaimed assets in hands of liquidator\n(1) If a liquidator of a company has in the liquidator's hands or under\nthe liquidator's control either of the following amounts, the liquidator\nmust immediately pay the amount to the Treasurer, and give the\nTreasurer full particulars of the amount:\n(a) a dividend, or moneys, that have remained unclaimed for\nmore than 6 months from the date when the dividend or\nmoneys became payable;\n(b) an unclaimed or undistributed amount arising from the\nproperty of the company after a final distribution is made.\n(2) The Minister may authorise an employee to give a receipt to a\nliquidator in respect of moneys paid under subsection (1).\n(3) A receipt given to the liquidator by an authorised employee is an\neffectual discharge of moneys paid under subsection (1).\n(4) On the application of the Chief Executive Officer, the Supreme\nCourt may do any of the following:\n(a) order a liquidator to provide to the Court by affidavit an\naccount of any unclaimed or undistributed funds or dividends\nin the liquidator's hands or under the liquidator's control;\n(b) order an audit of an account mentioned in paragraph (a);\n(c) order the liquidator to pay to the Treasurer some or all of the\namounts mentioned in paragraph (a).\n(5) The Treasurer must pay all moneys paid to the Treasurer under this\nsection into the Northern Territory Government Account.\n7 Payments to persons entitled\n(1) A person claiming to be entitled to any money paid to the Treasurer\nunder this Part may apply to the Supreme Court for an order for\npayment to him of any sum due to him, and the Court, if satisfied\nthat the person claiming is so entitled, shall make an order for the\npayment accordingly.\n(2) Upon the making of an order under subsection (1) for payment of\nany money to a person, or where he is otherwise satisfied that a\nperson is entitled to any money paid to the Treasurer under this\nPart, the Treasurer shall pay an amount equal to that money to that\nperson.\n\nPart III Unclaimed moneys\nCompanies (Unclaimed Assets and Moneys) Act 1963 3\n(3) The provisions of this section shall not, except as expressly\ndeclared in this Act, deprive any person of any other right or\nremedy to which he is entitled against the liquidator or any other\nperson.\nPart III Unclaimed moneys\n8 Interpretation\n(1) In this Part:\nunclaimed moneys, in relation to a company, means moneys in\nrespect of deposits with, or securities of, the company, and\ndividends, bonuses, profits or other moneys payable to a member\nof the company as such, which have become legally payable by the\ncompany, whether before or after the date of commencement of\nthis Act, but the recovery whereof becomes barred by operation of\nlaw after the date of commencement of this Act, or has become so\nbarred on or after 1 January last preceding that date.\n(2) For the purposes of this Act, where any moneys are or were\npayable upon demand or upon notice, demand shall be deemed to\nhave been made, or the requisite notice to have been given, at the\nearliest date upon which it could have been given, and the laws\nrelating to limitation of actions shall be deemed to have applied\naccordingly.\n9 Register of unclaimed moneys to be kept\n(1) Where, in the year which commenced on 1 January last preceding\nthe date of commencement of this Act or in any subsequent year,\nany moneys payable by a company have become unclaimed\nmoneys, the company shall, on or before 31 January next following\nthe end of that year, enter, in an alphabetical register kept, in\nrespect of that year, by the company at its head or principal office in\nthe Territory, in the form set out in Schedule 1, particulars of those\nunclaimed moneys.\n(2) The company shall, on payment or tender of a fee of 20 cents\npermit any person to inspect, at that head or principal office during\nthe hours within which the company transacts its ordinary business,\nall registers kept by the company under this section.\n(3) Where, at any time, a company pays any moneys entered in any\nsuch register to the person entitled thereto, the company may\ndelete from the register the entry relating to those moneys.\n\nPart III Unclaimed moneys\nCompanies (Unclaimed Assets and Moneys) Act 1963 4\n10 Copy of register to be gazetted\nA company which compiles a register in respect of a year in\npursuance of section 9 shall, on or before the last day of February\nnext following the end of that year, forward a copy of that register to\nthe Treasurer for publication by him in the Gazette, and shall\nforward with the copy a statutory declaration, made by an officer of\nthe company, in the form set out in Schedule 2.\n11 Penalty\nA company shall not fail to comply with any of the provisions of\nsection 9 or 10.\nMaximum penalty: $4 for every day during which failure\ncontinues.\n12 Unclaimed moneys to be paid to the Treasurer\n(1) All unclaimed moneys which have been entered in a register in\npursuance of section 9 and which have not been paid by the\ncompany to the person entitled thereto within one year after the\npublication of a copy of the entry in the Gazette shall be paid by the\ncompany to the Treasurer within one month after the end of that\nyear.\n(2) The company shall thereafter be relieved from all further liability in\nrespect of the moneys so paid.\n(3) The Treasurer shall pay all moneys paid to him in pursuance of this\nsection into the Northern Territory Government Account.\n13 Penalty for neglect to pay unclaimed moneys\nA company shall not fail to pay any moneys to the Treasurer as\nrequired by this Part.\nMaximum penalty: $4 for every day during which the failure\ncontinues.\n14 Treasurer may examine accounts, &c.\n(1) The Treasurer may, at any time after receipt of a copy of a register\nin pursuance of section 10, examine any of the accounts relating to\nthe unclaimed moneys referred to in that register, and may for that\npurpose require the production before him, or before such person\nas he appoints, of any book, voucher or document referring to those\nmoneys, and if any error is found in the register or copy, he may\ndirect the register or copy, or both of them, to be amended.\n\nPart III Unclaimed moneys\nCompanies (Unclaimed Assets and Moneys) Act 1963 5\n(2) The Treasurer may cause to be examined the books and accounts\nof a company not furnishing a return of unclaimed moneys.\n(3) A person shall not refuse or fail to comply with a requirement made\nof him in or for the purpose of the exercise of the powers conferred\nby this section.\nMaximum penalty: 1.7 penalty units.\n(4) An offence of contravening or failing to comply with subsection (3)\nis a regulatory offence.\n15 Treasurer to pay lawful claimant\nWhere the Treasurer is satisfied that a person is entitled to any\nmoneys paid to the Treasurer in pursuance of section 12, he shall\npay an amount equal to those moneys to that person.\n17 Part not to apply to certain unclaimed moneys\nThis Part shall not apply to any unclaimed moneys which are\nrequired by any law of the Commonwealth or of the Territory to be\ndealt with in a manner other than that prescribed by this Act.\n\nSchedule 1\nCompanies (Unclaimed Assets and Moneys) Act 1963 6\nSchedule 1\nsection 9\nCompany\nRegister of unclaimed moneys which became statute-barred during the year\n19 .\nName of Owner\nof Books\nTotal Amount due\nto Owner\nDescription of\nUnclaimed\nMoneys\nDate of Last\nClaim\n\nSchedule 2\nCompanies (Unclaimed Assets and Moneys) Act 1963 7\nSchedule 2\nsection 10\nNORTHERN TERRITORY OF AUSTRALIA\nCOMPANIES (UNCLAIMED ASSETS AND MONEYS) ACT 1963\nSTATUTORY DECLARATION\nI, (insert name, address, and occupation) , do solemnly and\nsincerely declare:\n(1) That I am an officer of (insert name of company).\n(2) That, in accordance with the provisions of the Companies\n(Unclaimed Assets and Moneys) Act 1963, the company has\nduly entered all moneys which became unclaimed moneys\nwithin the meaning of the Act during the year 19 in a register\nkept by the company at its head or principal office in the\nNorthern Territory.\n(3) That the register correctly and completely sets forth the\nparticulars of all such unclaimed moneys.\n(4) That the accompanying copy of the register is a true copy.\nThis declaration is true and I know it is an offence to make a\ndeclaration knowing it is false in a material particular.\nDeclared by\n[Signature of person making declaration] ______________________________\nat [place] ________________________ on [date] _____________\nWitnessed by\n[Signature of witness] __________________________________\n[Name] ______________________________________________\n[Address or telephone number] _______________________________\nNOTE: Making a declaration knowing it is false in a material\nparticular is an offence for which you may be fined or\nimprisoned.\n\nENDNOTES\nCompanies (Unclaimed Assets and Moneys) Act 1963 8\nENDNOTES\n1 KEY\nKey to abbreviations\namd = amended od = order\napp = appendix om = omitted\nbl = by-law pt = Part\nch = Chapter r = regulation/rule\ncl = clause rem = remainder\ndiv = Division renum = renumbered\nexp = expires/expired rep = repealed\nf = forms s = section\nGaz = Gazette sch = Schedule\nhdg = heading sdiv = Subdivision\nins = inserted SL = Subordinate Legislation\nlt = long title sub = substituted\nnc = not commenced\n2 LIST OF LEGISLATION\nCompanies (Unclaimed Assets and Moneys) Ordinance 1963 (Act No. 52, 1963)\nAssent date 24 July 1963\nCommenced 1 July 1963 (s 2, s 2 Companies Ordinance 1963 (Act No. 43,\n1963))\nOrdinances Revision Ordinance 1973 (Act No. 87, 1973)\nAssent date 11 December 1973\nCommenced 11 December 1973 (s 12(2))\nAmending Legislation\nOrdinances Revision Ordinance 1974 (Act No. 34, 1974)\nAssent date 26 August 1974\nCommenced 11 December 1973 (s 3(2))\nOrdinances Revision Ordinance (No. 2) 1974 (Act No. 69, 1974)\nAssent date 24 October 1974\nCommenced 11 December 1973 (s 3)\nOrdinances Revision Ordinance 1976 (Act No. 27, 1976)\nAssent date 28 June 1976\nCommenced ss 1, 2 and 6: 28 June 1976 (s 6(2));\nss 3 and 4: 11 December 1973; s 5: 24 October 1974\nTransfer of Powers (Self-Government) Ordinance 1978 (Act No. 54, 1978)\nAssent date 1 July 1978\nCommenced 1 July 1978 (s 8)\nStatute Law Revision Act (No. 3) 1979 (Act No. 37, 1980)\nAssent date 24 April 1980\nCommenced 24 April 1980\n\nENDNOTES\nCompanies (Unclaimed Assets and Moneys) Act 1963 9\nStatute Law Revision Act 1981 (Act No. 29, 1981)\nAssent date 25 March 1981\nCommenced 25 March 1981\nStatute Law Revision Act (No. 3) 1981 (Act No. 91, 1981)\nAssent date 21 September 1981\nCommenced 21 September 1981\nCriminal Law (Regulatory Offences) Act 1983 (Act No. 68, 1983)\nAssent date 28 November 1983\nCommenced 1 January 1984 (s 2, s 2 Criminal Code Act 1983 (Act No. 47,\n1983), Gaz G46, 18 November 1983, p 11 and Gaz G8,\n26 February 1986, p 5)\nCompanies and Securities (Consequential Amendments) Act 1986 (Act No. 18, 1986)\nAssent date 30 June 1986\nCommenced 1 July 1986 (s 2)\nCorporations (Consequential Amendments) Act 1990 (Act No. 59, 1990)\nAssent date 14 December 1990\nCommenced 1 January 1991 (s 2, s 2 Corporations (NT) Act 1990 (Act\nNo. 56, 1990) and Gaz S76, 21 December 1990)\nSentencing (Consequential Amendments) Act 1996 (Act No. 17, 1996)\nAssent date 19 April 1996\nCommenced 1 July 1996 (s 2, s 2 Sentencing Act 1995 (Act No. 39, 1995)\nand Gaz S15, 13 June 1996)\nCorporations Reform (Consequential Amendments NT) Act 2001 (Act No. 17, 2001)\nAssent date 29 June 2001\nCommenced 15 July 2001 (s 2, s 2 Corporations Act 2001 (Cth Act No. 50,\n2001) and Cth Gaz S285, 13 July 2001)\nStatute Law Revision Act (No. 2) 2001 (Act No. 62, 2001)\nAssent date 11 December 2001\nCommenced 11 December 2001\nBusiness Names Act 2007 (Act No. 1, 2007)\nAssent date 8 March 2007\nCommenced 22 August 2007 (Gaz G34, 22 August 2007, p 7)\nJustice Legislation Amendment (Penalties) Act 2010 (Act No. 12, 2010)\nAssent date 20 May 2010\nCommenced 1 July 2010 (Gaz G24, 16 June 2010, p 2)\nOaths, Affidavits and Declarations (Consequential Amendments) Act 2010 (Act No. 40,\n2010)\nAssent date 18 November 2010\nCommenced 1 March 2011 (s 2, s 2 Oaths, Affidavits and Declarations\nAct 2010 (Act No. 39, 2010) and Gaz G7, 16 February 2011,\np 4)\nCo-operatives (National Uniform Legislation) Act 2015 (Act No. 13, 2015)\nAssent date 22 May 2015\nCommenced 1 July 2015 (Gaz S62, 23 June 2015)\n\nENDNOTES\nCompanies (Unclaimed Assets and Moneys) Act 1963 10\nLocal Court (Related Amendments) Act 2016 (Act No. 8, 2016)\nAssent date 1 April 2016\nCommenced 1 May 2016 (s 2, s 2 Local Court (Repeals and Related\nAmendments) Act 2016 (Act No. 9, 2016) and Gaz S34,\n29 April 2016)\nJustice and Licensing Legislation Further Amendment Act 2022 (Act No. 21, 2022)\nAssent date 31 October 2022\nCommenced pt 3: 1 February 2023; rem: 21 December 2022 (Gaz G50,\n21 December 2022, p 1)\n3 GENERAL AMENDMENTS\nGeneral amendments of a formal nature (which are not referred to in the table\nof amendments to this reprint) are made by the Interpretation Legislation\nAmendment Act 2018 (Act No. 22, 2018) to: ss 1 and 5 and sch.\n4 LIST OF AMENDMENTS\nlt amd No. 29, 1981, s 2\nss 1 – 2 amd No. 29, 1981, s 2\ns 3 rep No. 37, 1980, s 6\ns 5 amd No. 29, 1981, s 2; No. 18, 1986, s 3; No. 59, 1990, s 4; No. 17, 2001,\ns 21; No. 62, 2001, s 15; No. 1, 2007, s 65; No. 13, 2015, s 26; No. 21, 2022,\ns 52\ns 6 amd No. 54, 1978, s 4; No. 1, 2007, s 66\nsub No. 21, 2022, s 53\nss 7 – 8 amd No. 29, 1981, s 2\nss 9 – 10 amd No. 29, 1981, s 2; No. 91, 1981, s 2\ns 11 amd No. 29, 1981, s 2; No. 12, 2010, s 3\ns 12 amd No. 54, 1978, s 4\ns 13 amd No. 29, 1981, s 2; No. 12, 2010, s 3\ns 14 amd No. 29, 1981, s 2; No. 68, 1983, s 108; No. 12, 2010, s 3\ns 16 amd No. 17, 1996, s 6\nrep No. 8, 2016, s 15\ns 17 amd No. 29, 1981, s 2\nsch hdg om No. 29, 1981, s 2\nsch 1 amd No. 29, 1981, s 2\nsch 2 amd No. 29, 1981, s 2; No. 40, 2010, s 14","sortOrder":0}],"analysis":{"issue_detection":{"absurdities":[],"contradictions":[]},"flash_summary":{"complexity_score":5,"scope_assessment":{"changed":true,"description":"The Act originally covered only companies under the old Companies Ordinance and excluded co-operatives. Over time, amendments expanded its scope to include companies under the Corporations Act 2001 and co-operatives under the Co-operatives (National Uniform Legislation) Act 2015, broadening the types of entities required to report unclaimed moneys. Penalties were also updated from fixed amounts to penalty units, and obsolete provisions were removed."},"complexity_factors":["Uses deemed dates for calculating when moneys become payable (e.g., demand deemed made at earliest possible date)","Cross-references to the Corporations Act 2001 and Co-operatives (National Uniform Legislation) Act 2015","Two distinct parts with different mechanisms (liquidators vs company-held moneys)","Includes multiple penalty provisions with both flat daily rates and modern penalty units","Contains two schedules with prescribed forms","Amended many times over decades, with transitional provisions"],"plain_english_summary":"This Northern Territory law requires companies and liquidators to hand over certain unclaimed money to the government. It covers two main situations:\n\n- **Unclaimed assets from liquidations**: If a liquidator (the person winding up a company) holds dividends or other money that nobody has claimed for more than six months, or any leftover funds after final distribution, they must pay it to the NT Treasurer. The Treasurer holds the money and can pay it back to anyone who proves they are entitled.\n- **Unclaimed moneys held by companies**: If a company owes money (like unpaid dividends, deposits, or share profits) and the legal time limit to claim it has expired (statute-barred), the company must record it in a register, publish a copy in the government gazette, and then pay it to the Treasurer if still unclaimed after a year. People can reclaim from the Treasurer later.\n\nThe Act applies to most companies (including co-operatives) in the Northern Territory. It replaces an older South Australian law. Companies face small daily fines for not complying, and the Treasurer has powers to inspect accounts."},"kimi_summary":{"content_quality":"ok","complexity_score":3,"scope_assessment":{"changed":true,"description":"The original 1963 Act applied only to companies incorporated under the then-applicable Companies Ordinance 1963. Over time, amendments have expanded coverage to include: (1) companies under the Corporations Act 2001 (federal legislation), (2) co-operatives registered under the Co-operatives (National Uniform Legislation) Act 2015, and (3) various updates to penalty provisions and procedural requirements. The 2022 amendments also significantly rewrote section 6 regarding liquidators' obligations. While the core purpose — transferring unclaimed company money to the Treasurer — remains unchanged, the scope of entities covered has broadened considerably from the original territorial companies legislation."},"complexity_factors":["Short statute — only 17 sections across 3 Parts plus 2 Schedules","Minimal defined terms — only 2 explicit definitions in section 5 ('company') and section 8 ('unclaimed moneys')","Straightforward procedural structure with clear timelines (6 months for liquidators, annual 31 January/28 February deadlines for companies)","Limited cross-referencing — primarily references to the Interpretation Act 1978 and Corporations Act 2001 for definitions","Simple penalty structure — mostly fixed daily penalties ($4/day) or specific penalty units","No nested exceptions or complex conditional logic; section 17 contains a single straightforward exclusion for moneys dealt with under other laws","Schedules provide template forms rather than substantive legal provisions"],"plain_english_summary":"**What this law does:**\n\nThis Northern Territory law deals with money that companies owe to people but which hasn't been claimed. It creates a system where unclaimed money eventually gets transferred to the government for safekeeping, while preserving the rightful owner's ability to claim it later.\n\n**Who it affects:**\n\n*   **Companies** operating in the NT (including co-operatives) that hold money owed to shareholders, depositors, or creditors\n*   **Liquidators** (people appointed to wind up failed companies) who are holding unclaimed assets\n*   **The public** — anyone who is owed money by a company but hasn't collected it\n\n**How it works:**\n\nThe law splits unclaimed money into two categories:\n\n**1. Money held by liquidators (Part II)**\n*   If a liquidator has dividends or other money that hasn't been claimed for 6 months, they must pay it to the NT Treasurer\n*   The Supreme Court can force liquidators to account for these funds if needed\n*   People who are owed money can apply to the Supreme Court for an order to get their money back from the Treasurer\n\n**2. Money held by operating companies (Part III)**\n*   Companies must keep a register of unclaimed money (deposits, dividends, bonuses, etc. that have become \"statute-barred\" — meaning the time limit for legal action to recover them has expired)\n*   Each year by 31 January, companies must record these debts in an alphabetical register\n*   By the end of February, they must send a copy to the Treasurer for publication in the *Government Gazette* (the official public record)\n*   If the money remains unclaimed for one year after this publication, the company must pay it to the Treasurer\n*   The company is then off the hook — the Treasurer becomes responsible for paying legitimate claimants\n\n**Penalties:**\n*   Companies face fines ($4 per day) for failing to keep registers or pay unclaimed money to the Treasurer\n*   It's also an offence to refuse to provide documents when the Treasurer examines company accounts\n\n**Why it matters:**\n\nThis law prevents companies from simply keeping money that belongs to others just because the legal time limit for claiming it has run out. Instead, the money goes to the government, which holds it indefinitely for the rightful owner. It also ensures transparency through public gazettal, giving people a chance to find and claim their money before it transfers to the Treasurer."}},"importantCases":[],"_links":{"self":"/api/acts/companies-unclaimed-assets-and-moneys-act-1963","history":"/api/acts/companies-unclaimed-assets-and-moneys-act-1963/history","analysis":"/api/acts/companies-unclaimed-assets-and-moneys-act-1963/analysis","conflicts":"/api/acts/companies-unclaimed-assets-and-moneys-act-1963/conflicts","importantCases":"/api/acts/companies-unclaimed-assets-and-moneys-act-1963/important-cases","documents":"/api/acts/companies-unclaimed-assets-and-moneys-act-1963/documents"}}