8Savings—money orders and postal orders

#### 8 Savings—money orders and postal orders (1) The moneys standing to the credit of a Money Order Account, being the account kept in accordance with section 26 of the Audit Act 1901‑1973, immediately before the commencing day are, by virtue of this section, vested in the Australian Postal Commission. (2) Notwithstanding the repeal of section 26 of the Audit Act 1901‑1973 by section 38 of, and Schedule 2 to, this Act, a Money Order Account referred to in subsection (1) of this section may, on and after the commencing day, be operated on: (a) by a cheque signed before the commencing day by a person authorized under section 26 of the Audit Act 1901‑1973; or (b) by a cheque signed on or after the commencing day by a person authorized by the Australian Postal Commission for that purpose. (3) Where, immediately before the commencing day, moneys would have been payable by Australia upon due presentation of a money order or postal order issued in Australia or of a money order issued in another country for the payment of moneys in Australia: (a) the Australian Postal Commission is liable, upon due presentation of the money order or postal order to that Commission on or after that day and upon payment to that Commission of any fee that would have been payable under the Post and Telegraph Act 1901‑1974 upon presentation of the money order or postal order under that Act, to make payment in accordance with the order; and (b) Australia ceases to be liable to make any payment in respect of the order. (4) The Australian Postal Commission is liable to pay to, or in accordance with the directions of, the Australian Telecommunications Commission amounts aggregating the sum of the moneys in the Money Order Account immediately before the commencing day that were received in connexion with the provision of telecommunications services by Australia. (5) Where moneys held in the Money Order Account immediately before the commencing day were held on behalf of a State, body or person, the Australian Postal Commission is liable to pay an amount equal to the amount of the moneys so held to that State, body or person. (6) Where moneys held in the Money Order Account immediately before the commencing day were payable out of that account in accordance with the directions of a Department other than the Postmaster‑General’s Department, the Australian Postal Commission is liable to expend out of moneys of the Commission amounts aggregating the amount of those moneys in accordance with the directions of that Department. (7) The Australian Postal Commission shall pay to the credit of the Unclaimed Moneys Fund kept in accordance with section 107 of the Postal Services Act 1975 amounts equal to each of the amounts held in the Money Order Account immediately before the commencing day that had been paid into that account more than 1 year before that day for transmission by means of a money order or postal order and that section applies in relation to that amount as if it had been received by the Commission for transmission to a person on the day on which it was received by Australia.