Unclaimed Money Act 1950

The Act uses a small vocabulary of concrete legal concepts to organise duties and processes. These are the concepts that practitioners must understand to operate under or advise about the statute.

• Unclaimed assets in the hands of a liquidator (Part 2, s 4). The Act requires a liquidator to pay into the custody of the public trustee and guardian any amount, including dividends, that has been unclaimed for more than six months from the time it became payable (s 4(1)(a)), and any unclaimed or undistributed amounts after final distribution (s 4(1)(b)). The liquidator must also provide particulars of the payment (s 4(4)), and payment discharges the liquidator from liability in respect of the amount (s 4(5)). The Supreme Court has power, on application of the public trustee and guardian, to direct a liquidator to submit accounts and can give directions about verification, auditing and payment (s 4(2)-(3)).

• Unclaimed amounts payable by companies (Part 3, ss 6-11). Part 3 applies to amounts payable by a company to persons in their capacity as members, and amounts relating to deposits with or securities of the company (s 6(1)). For Part 3 an amount becomes an unclaimed amount if at least six years have elapsed since it became payable and the company has not received a request for payment during that six year period (s 6(2)). The company must keep an alphabetical register for the year at its head or principal office in the ACT and enter particulars by 31 January of the next year (s 7(1)). The register must be open for inspection on payment or tender of a fee of 20 cents during ordinary business hours (s 7(2)). A company must prepare a written notice of the particulars and give it to the public trustee and guardian by 31 March next year, verified by an officer of the company, and give public notice explaining how claims can be made (s 8(2)-(3)). Where a company does not pay an unclaimed amount to the person entitled within one year after giving the notice, the company must pay the amount to the public trustee and guardian within one month after the end of that one-year period (s 10(1)-(2)). Payment to the trustee relieves the company of liability for the amount (s 10(3)).

• Unclaimed money and claims (Part 5, ss 26-31). The Act defines unclaimed money for Part 5 to include money paid to the public trustee and guardian under s 4 and s 10, and money received under several other statutes listed in s 26. A person claiming to be entitled to an amount of unclaimed money may apply to the public trustee and guardian for payment (s 27(1)). The public trustee and guardian may require further information or documents (s 27(2)) and may refuse to consider an application if the applicant does not comply (s 27(3)). Representatives can apply on behalf of applicants, including executors and administrators (s 28). The public trustee must decide either to pay or to refuse (s 29), must give a reviewable decision notice (s 30), and affected persons can seek review by the ACT Civil and Administrative Tribunal (ACAT) (s 31).

• Public trustee and guardian’s register (s 33A). The public trustee and guardian may keep a register of unclaimed money paid under the Act and certain other Acts; the register may include owner names and other information, and may be kept electronically or in parts as the trustee decides (s 33A(1)-(4)). The trustee must make register information available so that entitled persons can find out about their entitlement, and the trustee may decide how the information is made available (s 33A(5)-(6)).

• Corresponding law and company definitions. The Minister can declare a law of a State or another Territory to correspond with this Act (s 3). The definition of company varies for the purposes of Part 2 and the rest of the Act (dictionary): Part 2’s company includes foreign companies under the Corporations Act, cooperatives and incorporated associations; for other provisions the definition also includes Corporations Act companies (dictionary).

• Enforcement vocabulary. The Act creates offences for failure to compile and publish the required registers and for failure to pay unclaimed amounts as required by Part 3, each carrying a maximum penalty of 100 penalty units (ss 9(1), 11(1)). The republished law states the value of a penalty unit at the republication date: $160 for an individual and $810 for a corporation (republication note at head of the Act).

These concepts together define the chain of legal responsibility from private holder (liquidator or company) to public trustee and guardian, and then from public trustee to claimant. The Act balances reporting, custody and claim-resolution duties against statutory defences where an entity has complied with a corresponding law (ss 9(2)-(3), 11(2)) and exceptions where other ACT law provides a different treatment (s 15).

The Act allocates duties and rights across identifiable groups. Who pays, who decides, and who claims are evident from the text.

• Liquidators. Any liquidator of a company who has amounts in their hands that have been unclaimed for longer than six months from when payment became due, or who after final distribution has unclaimed or undistributed amounts arising from company property, must pay the amounts to the public trustee and guardian (s 4(1)). Liquidators must also provide particulars of the payment, namely the amount, the company name and the name of the person who appears from company records to be entitled (s 4(4)). Payment to the public trustee discharges the liquidator from liability in relation to the amount (s 4(5)). The Supreme Court may be asked by the public trustee to require an account and may order verification, audit and payment (s 4(2)-(3)). This creates duties on liquidators and a potential court-facing compliance obligation.

• Companies. For Part 3, companies that have amounts payable to members or relating to deposits or securities are affected (s 6(1)). The company must identify when an amount is an unclaimed amount (six years elapsed without a request for payment, s 6(2)), maintain an alphabetical register at the head or principal office in the ACT, permit inspection of registers for a fee, notify the public trustee and give public notice, and if the amount remains unpaid by the entitled person for a year after notice, pay the amount to the public trustee within one month (ss 7-10). Failure to comply with register and notification obligations is an offence (s 9); failure to pay is an offence (s 11). The dictionary distinguishes company for Part 2 from other provisions; Part 2’s company definition includes foreign companies, cooperatives and incorporated associations, and the rest of the Act extends to Corporations Act companies as well (dictionary).

• Claimants and their representatives. Persons who claim entitlement to unclaimed money (money paid to the public trustee under the listed provisions in s 26) may apply to the public trustee and guardian for payment (s 27(1)). Representatives,agents or legal representatives (executors or administrators),may also apply on behalf of deceased persons (s 28). Applicants may be required to supply identification and proof of entitlement, and the trustee may refuse to consider an application if required documents are not provided (s 27(2)-(3)). Decisions to pay or refuse must be given by reviewable decision notice (s 30) and are reviewable by ACAT (s 31).

• Public trustee and guardian. The public trustee and guardian is the statutory recipient of payments from liquidators and companies (ss 4, 10). The trustee is responsible for maintaining an unclaimed money register, deciding claims, requesting additional information from applicants, giving reviewable decision notices, publishing or making register information available (s 33A), and complying with Ministerial determinations on fees and approved forms (ss 34-35). The public trustee is the administrative gatekeeper between private holders of unclaimed amounts and claimants.

• The Supreme Court and ACAT. The Supreme Court may be brought into play by the public trustee to require liquidators to submit accounts and may direct verification, audit and payment (s 4(2)-(3)). ACAT provides an administrative law review route for decisions of the public trustee and guardian (s 31), and s 30 refers to the ACAT Act s 67A obligation to take reasonable steps to notify affected persons.

• The Minister. The Minister may declare corresponding laws (s 3), determine fees under the Act (s 34), and approve mandatory forms (s 35). Ministerial determinations are disallowable instruments (s 34(2)), and approved forms are notifiable instruments (s 35(3)), creating parliamentary oversight points.

• Other States and Territories. The Act contemplates interaction with other jurisdictions through the concept of corresponding laws and gives companies and liquidators a potential defence where they complied with a corresponding law in relation to the amount or register (ss 3, 9(2)-(3), 11(2)).

Who bears compliance costs and legal exposure is therefore clear: liquidators and companies bear recordkeeping, notice and payment duties, with penalties for breach; the public trustee bears the administrative burden of receiving, holding and disbursing monies and keeping a register; claimants must substantiate entitlement where asked; courts and tribunals provide oversight functions. The Act also creates potential small transactional costs for third parties inspecting registers (20 cents per inspection, s 7(2)) and gives the Minister scope to set additional fees.

This section organises the operative duties and rights the Act creates, with statutory references.

Key duties

• Liquidator duties (s 4).

  • If a liquidator holds any amount unclaimed for longer than six months from when it became payable, or holds unclaimed or undistributed amounts after final distribution, the liquidator must pay that amount to the public trustee and guardian (s 4(1)(a)-(b)).
  • Upon payment, the liquidator must provide particulars: amount paid, company name and the name appearing from company records of the person entitled (s 4(4)).
  • Payment to the public trustee discharges the liquidator from liability in relation to the amount (s 4(5)).
  • The public trustee may apply to the Supreme Court to require the liquidator to submit accounts; the Court may give directions for verification, auditing and payment (s 4(2)-(3)).

• Company duties (Part 3: ss 6-11).

  • Identify an unclaimed amount: at least six years must have elapsed since the amount became payable and no request for payment was received during those six years (s 6(2)).
  • Maintain an alphabetical register for each year at the head or principal office in the ACT and enter particulars by 31 January next year (s 7(1)).
  • Allow inspection of registers at the head office during ordinary business hours on payment or tender of a fee of 20 cents (s 7(2)).
  • If the company pays the amount to the person entitled, it may delete the entry from the register (s 7(3)).
  • Prepare a written notice of particulars entered in the register and give it to the public trustee and guardian, verified by an officer, by 31 March (s 8(2)-(3)(a)).
  • Give public notice that it holds unclaimed amounts and explain how people can find out details and claim (s 8(3)(b)); public notice is defined to include an ACT government website or a daily newspaper circulating in the ACT (s 8 note 1).
  • If an amount entered in the register has not been paid to the person entitled within one year after the company gave notice to the public trustee, the company must pay the amount to the public trustee and guardian not later than one month after the end of the one-year period (s 10(1)-(2)).
  • On payment to the public trustee the company is relieved from all further liability for the amount (s 10(3)).
  • Offences with maximum penalties for failure to compile and publish the register (s 9(1)) and failure to pay required amounts to the public trustee (s 11(1)).

• Public trustee and guardian duties (ss 27-31, s 33A).

  • Maintain receipt and administration of unclaimed money paid under s 4 or s 10 and other specified statutory provisions (s 26).
  • Receive and consider applications from persons claiming entitlement, ask for further reasonably required information or documents, and refuse to consider an application if the applicant does not comply (s 27(1)-(3)).
  • Keep an unclaimed money register and make information available so that entitled persons can find out about entitlements (s 33A(1), (5)). The trustee may decide the form and method of availability (s 33A(3), (6)).
  • Make decisions to pay or refuse, give reviewable decision notices, and be subject to review by ACAT (ss 29-31).

Key rights

• Claimant rights (ss 27-31).

  • Persons claiming entitlement to unclaimed money may apply to the public trustee and guardian for payment (s 27(1)).
  • Applicants have a right to be given notice of the trustee’s decision, which must be a reviewable decision notice (s 30). Affected persons may seek review by ACAT (s 31).

• Defences and exceptions.

  • Companies and liquidators can raise as a defence compliance with a corresponding law that applied in relation to the amount or register (s 9(2)-(3), s 11(2)).
  • Part 3 does not apply to amounts required by another ACT law to be dealt with differently (s 15).

• Ministerial and judicial powers.

  • The Minister may declare corresponding laws (s 3), determine fees (s 34) and approve forms (s 35). Ministerial determinations and approved forms are subject to parliamentary oversight as disallowable or notifiable instruments respectively (ss 34(2), 35(3)).
  • The Supreme Court may be asked to enforce trustee orders against liquidators and to give directions regarding verification and audit (s 4(2)-(3)).

Operational effects of duties and rights

• A liquidator or company that pays required amounts to the public trustee is statutorily discharged from further liability in relation to those amounts (ss 4(5), 10(3)). That converts private custodial responsibility into statutory discharge and places the onus of making further payments on the public trustee subject to the trustee’s application and verification processes (ss 27-31, s 33A).

• The public trustee’s discretion in keeping the register and deciding how information is made available gives the trustee administrative control over discoverability and the mechanics of claims (s 33A).

• The Act creates a compliance calendar for companies: six-year dormancy determinations, register entries by 31 January, notices to the trustee by 31 March, payment to the trustee within one month after one year following notice (ss 6-10). Failure to adhere can attract penalties (ss 9, 11).

The Act sets out both criminal penalties for non-compliance and civil/enforcement mechanisms involving courts and administrative review bodies.

Monetary penalties

• Offences and maximum penalties. The Act makes it an offence for a company to fail to comply with the register and notice provisions in ss 7 and 8 (s 9(1)), and an offence to fail to pay any amount to the public trustee and guardian as required by Part 3 (s 11(1)). Each of those offences carries a maximum penalty of 100 penalty units. The republished law states the value of a penalty unit for offences under the Act at the republication date: $160 for an individual and $810 for a corporation (republication note at head of the Act). Those values are set under the Legislation Act 2001, s 133 and are noted in the republication preamble.

• Defences. The Act provides statutory defences to prosecution for offences under ss 9 and 11 where, in relation to the amount or register in question, the defendant complied with a corresponding law that applied in relation to the amount or register (ss 9(2)-(3), 11(2)). This creates an interstate compliance defence where the Minister has declared a corresponding law under s 3.

Judicial and quasi-judicial remedies

• Supreme Court oversight of liquidators. The public trustee and guardian may apply to the Supreme Court for an order directing a liquidator to submit an account of unclaimed or undistributed amounts in the liquidator’s hands (s 4(2)). The Court may, by order, give directions about verification, auditing and payment by the liquidator to the public trustee and guardian (s 4(3)). This gives the public trustee a route to enforce payment or to compel account verification through judicial process against a liquidator.

• Administrative review through ACAT. Decisions by the public trustee and guardian concerning payment or refusal to pay unclaimed money are reviewable. The public trustee must give a reviewable decision notice for decisions under s 29 (s 30). Applicants and any other persons whose interests are affected may apply to ACAT for review of that decision (s 31). The Act’s note to s 30 expressly cross-refers to ACT Civil and Administrative Tribunal Act 2008, s 67A, requiring reasonable steps to notify affected persons, which frames procedural fairness obligations.

Administrative enforcement and instruments

• Ministerial instruments. The Minister may determine fees for the operation of the Act (s 34) and approve forms that must be used for statutory purposes (s 35). Determinations of fees are disallowable instruments (s 34(2)) and approved forms are notifiable instruments (s 35(3)), so they are subject to parliamentary oversight and procedural enactment requirements. Ministerial instruments therefore shape administrative practice and can affect compliance costs.

• Register oversight and availability. The public trustee must make register information available so entitled persons can find out about entitlements (s 33A(5)). The utility of the register as an enforcement-facing tool depends on the trustee’s operational choices under s 33A(6).

Practical enforcement implications

• The Act transfers the legal risk of holding unclaimed amounts onto liquidators and companies through statutory obligations and penalty exposure, while simultaneously providing those private holders with statutory discharges upon payment to the public trustee (ss 4(5), 10(3)). The Supreme Court power under s 4(2)-(3) is the principal judicial enforcement route against recalcitrant liquidators, while ACAT performs administrative review of trustee decisions.

• The corresponding law defence (ss 9(2)-(3), 11(2)) and s 15 exemption where another ACT law requires different handling create rules-based pathways for entities already complying with other jurisdictions’ regimes or specific ACT statutes to avoid duplication or double liability.

The Act is designed to operate in a statutory ecosystem and explicitly contemplates interactions with Commonwealth, State and Territory laws, other ACT laws, and specific statutes listed in s 26.

Corresponding laws and interstate interaction

• Declaration of corresponding law (s 3). The Minister may declare that a law of a State or another Territory corresponds with this Act. That declaration is a notifiable instrument (s 3(2)). The existence of corresponding laws creates an express statutory recognition mechanism for uniformity or substitute compliance.

• Defences based on corresponding laws. Where a company or liquidator has complied with a corresponding law that applied in relation to the amount or register, that compliance is a statutory defence to prosecution under ss 9 and 11 (ss 9(2)-(3), 11(2)). This mechanism allows entities subject to other jurisdictions’ unclaimed money regimes to avoid duplicate obligations or penalties so long as a corresponding law is declared and applied.

Interplay with other ACT statutes

• Exclusions where other laws apply differently (s 15). Part 3 does not apply to amounts that are required by another law in force in the ACT to be dealt with in a way different from Part 3. This clause preserves the primacy of specific ACT statutory schemes where Parliament has required different treatment.

• Cross-references to other Acts in the definition of unclaimed money (s 26). Part 5’s definition of unclaimed money expressly includes monies paid to the public trustee and guardian under:

  • s 4 of this Act (liquidator payments);
  • s 10 of this Act (company payments);
  • Agents Act 2003, s 124;
  • Co-operatives National Law (ACT), s 436(3)(b)(ii); and
  • Legal Profession Act 2006, s 259. This establishes a single administrative recipient,public trustee and guardian,for unclaimed monies paid under multiple legislative regimes and provides a common claims pathway under Part 5.

• Historical amendments and repeals. The endnotes and amendment history show periodic insertion and omission of entire Parts (for example, parts relating to unclaimed superannuation were inserted and later omitted in earlier amendment rounds). The Act’s dictionary and endnotes record these change points and thus show how the statute historically interacted with Commonwealth and ACT superannuation regulation. Practitioners should consult the amendment history at the end of the Act when considering historical entitlements.

Administrative instruments and legislative supervision

• Ministerial instruments are part of the statutory operating environment. Fees under s 34 are set by the Minister and are disallowable instruments. Approved forms under s 35 must be used for the specified purposes and are notifiable instruments. Those instruments therefore interact with parliamentary oversight procedures and may affect compliance costs and administrative practice.

Tribunals and courts

• Administrative review is via ACAT (s 31), and the ACT Civil and Administrative Tribunal Act 2008 provides the procedural framework for review of the public trustee’s decisions. Judicial enforcement against liquidators is available through the Supreme Court on application by the public trustee (s 4(2)-(3)). These bodies integrate the Act into the broader ACT civil and administrative law architecture.

Corporations and national laws

• The Act’s dictionary refers to the Corporations Act and defines company differently for Part 2 and for other provisions (dictionary). For Part 2, the scope includes foreign companies under the Corporations Act, cooperatives registered under the Co-operatives National Law (ACT) and associations incorporated under the Associations Incorporation Act 1991. For the rest of the Act, the definition extends to entities mentioned previously and bodies corporate that are companies within the Corporations Act, s 9. This creates a bridge to federal corporate regulation for determining which entities fall within the Act’s reach.

In short, the Act is designed to fit within a network of Commonwealth, State and Territory regimes and other ACT statutes by providing cross-references, defences for corresponding law compliance, and a mechanism to exclude Part 3 where other ACT laws govern different treatment. The public trustee is the administrative hub for unclaimed monies under multiple statutes.

The Act has a long amendment history recorded in the endnotes. The republication relates to the text in force on 5 January 2026 and reflects cumulative changes. The key mechanics for users are: consult the endnotes for amendments, and note the most recent amending instrument and its commencement date.

• Origin and conversion to ACT law. The Act originated as a Commonwealth ordinance, Unclaimed Moneys Ordinance 1950 No 15 (Cwlth), notified 21 December 1950 and commenced the same day (endnotes, Legislation history). It was converted into an ACT enactment on 11 May 1989 by the operation of the Australian Capital Territory (Self-Government) Act 1988 (Cwlth) and was renamed Unclaimed Money Act 1950 by Justice and Community Safety Legislation Amendment Act 2005 (No 4) A2005-60 (endnotes).

• Frequent amendments across decades. The endnotes show numerous amendments and insertions over time across Commonwealth ordinance years and after conversion to Territory law. Amendments include changes to the definitions, insertion and later omission of parts relating to unclaimed superannuation benefits and retirement savings accounts, adjustments to registers and notice requirements, and the insertion of Part 6 and s 33A in later amendments (see amendment history). Legislative instruments and statutes amending the Act include Unclaimed Moneys (Amendment) Ordinances in the 1970s and 1980s, and numerous ACT Acts such as Unclaimed Moneys (Amendment) Act 1990 A1990-28, Unclaimed Moneys (Amendment) Act 1997 A1997-34, and others listed in the endnotes.

• Recent amendments recorded in the republished law. The amendment history records that the Statute Law Amendment Act 2025 A2025-29 (sch 4 pt 4.179) was notified 6 November 2025, with relevant provisions commenced 5 January 2026 (endnotes). The amendment history annotations show that multiple sections of the Act were amended by A2025-29 (for example, s 3, s 7, s 8, s 27, s 30, s 31, s 34 and s 35 carry the note "am A2025-29 amdt 4.181"). Those amendment annotations indicate targeted updates to declaration powers, company register provisions, trustee decision procedures and Ministerial instrument powers. The republished text incorporates those amendments as in force on the republication date.

• Structural changes over time. The Act’s dictionary and provisions have been substantially revised across amendments. Several Parts that once existed, notably Part 4 addressing unclaimed superannuation benefits and retirement savings accounts, were inserted in the 1990s but later omitted or substantially modified by later Acts (amendment history shows insertion by A1997-34 and omission by A2010-50). Part 6 (Miscellaneous) including s 33A (Unclaimed money register) was inserted or amended in several Acts (A2012-13, A2016-13) as recorded in the endnotes. The history indicates periodic consolidation and renumbering events.

• Administrative instrument changes. Amendments have also altered administrative powers. For example, s 34 (Determination of fees) was inserted in A2001-44 and further amended by A2025-29 (amdt 4.181), and s 35 (Approved forms) was likewise modernised. These changes reflect an ongoing delegation of operational detail to Ministerial instruments subject to parliamentary oversight.

Practical note for practitioners

• Always check the endnotes. The Act’s endnotes list all amendment instruments, commencement dates and historical context. For due diligence on historical claims, transitional issues or potential lingering effects of omitted parts, the endnotes and the listed earlier republications provide the necessary lineage.

• Recent amendment vector. The most recent statutory amendment recorded in the endnotes is A2025-29; practitioners advising on procedures should confirm whether any instrument made under the amended sections (for example, fee determinations or approved forms) has been published, and whether a corresponding law declaration has been made under s 3, because those instruments materially affect practical operation.

The republished Act and its endnotes do not record judicial decisions or cases that have interpreted the Act. The text contains procedural points that give rise to judicial or tribunal engagement, but the Act itself does not list litigation or appellate history. Practitioners must therefore rely on court and tribunal databases for case law; the Act’s text indicates the forum for that engagement.

Statutory avenues to litigation or review set out in the Act

• Supreme Court jurisdiction over liquidators. The public trustee and guardian may apply to the Supreme Court for an order directing a liquidator to submit accounts of unclaimed or undistributed amounts in the liquidator’s hands (s 4(2)). If an order is made the Court can direct verification, audit and payment (s 4(3)). This provision creates a defined judicial route for enforcement against a liquidator. Litigation under s 4 would focus on account accuracy, the liquidator’s statutory duties, verification and the Court’s directions on payment. The Act gives the Court express power to prescribe auditing steps and payment directions.

• Administrative review by ACAT. Decisions by the public trustee and guardian under s 29 to pay or refuse to pay unclaimed money are reviewable by the ACT Civil and Administrative Tribunal (s 31). The Act requires the public trustee to give affected persons reviewable decision notices (s 30), and the ACAT Act (referenced in the note to s 30) imposes notification requirements. Reviewable decisions will raise issues such as evidentiary sufficiency of entitlement proofs, interpretation of identity or representative status, and procedural fairness of the trustee’s decision process.

• Penal prosecutions. The Act contemplates prosecutions for breaches of ss 9 and 11. Prosecuting authorities would need to prove failure to compile and publish registers or failure to pay unclaimed amounts as required. The Act supplies statutory defences where the defendant complied with a corresponding law (ss 9(2)-(3), 11(2)), which will be a focal point in any litigation about penalty exposure.

Areas likely to generate disputes

• Entitlement and evidentiary disputes. Applications under s 27 require claimants to establish identity and entitlement; the public trustee may request documents and may refuse to consider incomplete applications (s 27(2)-(3)). Disputes about sufficiency of proof and the trustee’s exercise of discretion can generate ACAT reviews.

• Register accuracy and timing. Companies must enter particulars in an alphabetical register by 31 January next year and give particulars to the public trustee by 31 March (ss 7(1), 8(3)(a)). Disputes may arise about whether entries were timely, whether proper public notice was given, or whether an amount meets the statutory dormancy threshold of six years under s 6(2). Liability for penalties under ss 9 and 11 could follow.

• Scope of corresponding law defence. Litigation may test whether a particular external statutory regime is a declared corresponding law and whether compliance with it suffices as a defence under the Act (s 3; ss 9(2)-(3), 11(2)). The Minister’s declaration power under s 3 and the content of declared instruments will frame these disputes.

Absence of reported litigation in the republished Act

• The Act’s endnotes and republished text contain no list of cases or judicial interpretations; those must be researched separately in legal databases. The Act does, however, provide clear procedural routes for court and tribunal engagement, and practitioners should treat those mechanisms as the statutory theatres in which disputes will be litigated.

The Act is compact but contains a number of operational and drafting details that create compliance traps or unexpected legal effects if overlooked.

1. Different dormancy periods for liquidators and companies. The thresholds are not the same. Liquidators must pay amounts unclaimed for longer than six months from when they became payable (s 4(1)(a)), whereas Part 3 treats an amount as unclaimed only after at least six years have elapsed without a request for payment (s 6(2)). Practitioners advising liquidators and companies must not conflate the two timeframes.

2. Head/principal office location requirement. The company’s alphabetical register must be kept at its head or principal office in the ACT (s 7(1)). Companies that have moved their offices, that have a head office outside the ACT, or that operate across jurisdictions may have to take specific steps to locate or maintain registers in the ACT. Failing to maintain the register locally triggers the offence in s 9.

3. Small inspection fee and inspection hours. The Act permits inspection of registers on payment or tender of a fee of 20 cents during ordinary business hours (s 7(2)). While the fee is trivial, the requirement to permit inspection during business hours creates an operational obligation on companies’ administrative staff. The Act does not prescribe an electronic inspection method for company registers; by contrast, the public trustee may keep registers electronically (s 33A(3)).

4. Timing cascade for company obligations. The company compliance calendar is tightly sequenced: unclaimed amount defined after six years (s 6(2)); register entry by 31 January next year (s 7(1)); written notice to the public trustee verified by an officer by 31 March (s 8(3)(a)); public notice (s 8(3)(b)); and payment to the public trustee if not claimed by the person within one year after notice, to be made within one month after that one-year period (s 10(1)-(2)). Failure at any stage can trigger an offence. Companies need internal compliance systems that track these dates.

5. Payment discharges private liability but transfers burden to public trustee. Payment to the public trustee discharges the liquidator or company from liability for the amount (ss 4(5), 10(3)). That means once payment is made, a claimant’s recourse is against the public trustee and not the original holder. Practitioners must therefore consider the adequacy of the public trustee’s claims processes and the evidentiary expectations in ss 27-31 before advising holders to pay to obtain discharge.

6. The public trustee’s discretion and evidence requests. The public trustee may require more information or documents reasonably needed to decide an application (s 27(2)). The applicant’s failure to comply authorises refusal to consider the application (s 27(3)). This means claimants should be prepared to produce standard identification and entitlement proofs; the Act gives the trustee operational discretion to demand additional evidence.

7. Differing company definitions across the Act. The dictionary defines “company” differently for Part 2 versus other provisions. Part 2’s company definition includes foreign companies, cooperatives and associations incorporated under ACT law, while other parts extend to Corporations Act companies (dictionary). Practitioners must check which definition applies to the obligation under consideration, particularly for liquidator duties versus company register duties.

8. Corresponding law defence requires declaration. The Act’s defence for non-compliance depends on compliance with a corresponding law that has been declared under s 3. Entities cannot assume interstate regimes will automatically shield them; they should check whether a declaration has been made, and document compliance with the corresponding law to rely on the defence in ss 9(2)-(3) and 11(2).

9. Ministerial instruments can change effective costs or forms. Fees and approved forms are set or approved by Ministerial instrument (ss 34-35). These are subject to parliamentary oversight but can change administrative burdens quickly, so check for in-force determinations and approved forms when advising on compliance or claims.

10. Penalty unit values and differing corporate/individual values. The republication note sets penalty unit values at the republication date: $160 for an individual and $810 for a corporation. These differentiated values matter when advising on exposure to the maximum 100 penalty unit sanctions under ss 9 and 11. Check the current value under the Legislation Act s 133 or the latest republication note for current figures.

11. Public notice requirement is specific. Public notice must state that the company holds unclaimed amounts for the previous year and explain how people can find out details and claim (s 8(3)(b)). The Act’s note clarifies public notice means an ACT government website or a daily newspaper circulating in the ACT (s 8 note 1). Companies that rely on broader online or social media announcements may not satisfy the statutory standard unless they also use the prescribed channels.

12. Records deletion after payment to claimant. If a company pays an amount entered in the register to the person entitled, the company may delete the register entry related to the amount (s 7(3)). That deletion is optional ("may delete"), so companies must decide record retention practices mindful of internal audit and evidentiary needs.

These “gotchas” are operational, calendaring, evidentiary and definitional. Each can create penalties, administrative disputes, or transfer of liability if ignored.

The Act prescribes a set of concrete steps and timelines. Below is a practical checklist organised by actor: liquidators, companies, public trustee and claimants. Each step references the statutory provision to ground compliance obligations.

Liquidators (Part 2 compliance: s 4)

• Identify unclaimed assets promptly. Review company records for any amounts, including dividends, that have remained unclaimed for longer than six months from when they became payable (s 4(1)(a)). Also identify any unclaimed or undistributed amounts after final distribution (s 4(1)(b)).

• Pay to the public trustee and guardian. If the threshold is met, pay the unclaimed amount to the public trustee and guardian without delay (s 4(1)).

• Provide particulars with the payment. When making payment, include the particulars required by s 4(4): amount paid, company name, and the person who appears from the company records to be entitled.

• Keep records and evidence of payment. Since payment to the public trustee discharges the liquidator’s liability (s 4(5)), retain evidence of payment and the particulars given to the trustee.

• Be prepared for Supreme Court orders. If the public trustee applies under s 4(2), prepare to submit an account and comply with directions about verification, auditing and payment as ordered by the Supreme Court (s 4(3)). Maintain auditable accounts and supporting documentation.

Companies (Part 3 compliance: ss 6-11)

• Determine when an amount becomes an unclaimed amount. For amounts payable to members or relating to deposits or securities, determine whether at least six years have elapsed since the amount became payable and whether no request for payment was received during that six-year period (s 6(1)-(2)).

• Maintain registers at the proper office. Keep an alphabetical register for any year in which unclaimed amounts occur at the company’s head or principal office in the ACT and enter particulars not later than 31 January in the next year (s 7(1)).

• Facilitate inspections. Make registers available for inspection at the head or principal office during ordinary business hours on payment or tender of the 20 cent fee (s 7(2)). Establish a process for inspection requests and maintain a small cash or accounting mechanism to record the 20 cent receipts.

• Update register entries upon payment to claimants. If the company pays an amount to the person entitled, the company may delete the corresponding register entry (s 7(3)). Record such deletions and payments for evidentiary purposes.

• Prepare and give notice to the public trustee. Prepare a written notice setting out the particulars entered for the year, verified by a company officer, and give it to the public trustee and guardian not later than 31 March of the next year (s 8(2)-(3)(a)).

• Give public notice. Publish a public notice on an ACT government website or in a daily newspaper circulating in the ACT stating the company holds unclaimed amounts for the previous year and explaining how people can find out details of the amounts and claim them (s 8(3)(b); note 1).

• Payment to public trustee after one year. If an unclaimed amount entered in the register remains unpaid to the person entitled one year after giving the notice to the public trustee, the company must pay the amount to the public trustee and guardian not later than one month after the end of that one-year period (s 10(1)-(2)). Set internal reminders to track the one-year cut-off and one-month payment deadline.

• Rely on corresponding law defence where applicable. If the company complies with a declared corresponding law in relation to the amount or register, that compliance is a defence to prosecution for breach of ss 7/8 or 10 obligations (ss 9(2)-(3), 11(2)). Ensure documented compliance with any corresponding law if intending to rely on this defence.

• Governance oversight. Incorporate these obligations into company compliance manuals and board reporting, and assign an officer to verify the s 8(2) statement before it is given to the public trustee.

Public trustee and guardian (ss 26-31, s 33A)

• Maintain a register and public availability. Keep a register of unclaimed money paid under the Act and other listed Acts, include owner names and relevant information as appropriate, and decide how to make information available so entitled persons can find out about entitlements (s 33A(1)-(6)). Consider electronic publication to increase discoverability, consistent with the trustee’s discretion.

• Create application procedures. Publish clear application forms and guidance on required identification and proof of entitlement. The trustee may require further information or documents reasonably needed under s 27(2). Use approved forms where the Minister has mandated formats (s 35).

• Process applications consistently. Establish procedures to ensure that, if an applicant does not provide required information, the trustee follows s 27(3) by refusing to consider the application only where justified. Issue reviewable decision notices for s 29 decisions and follow the ACAT Act’s notification requirements for affected persons (s 30 note).

• Maintain records for potential court applications. If the trustee needs to seek a Supreme Court order against a liquidator under s 4(2), maintain auditable account summaries and supporting documents.

Minister and administrative oversight

• Fee determinations and approved forms. The Minister should publish fee determinations under s 34 and approved forms under s 35 as disallowable and notifiable instruments respectively, and ensure these are accessible to companies, liquidators and claimants. Practitioners should check for current instruments.

Claimants and representatives (ss 27-31)

• Prepare supporting documentation. Typical documents include proof of identity (birth certificate, citizenship certificate, driver licence), proof of residence (rates notice, electricity bill), and evidence of entitlement (s 27 examples). If applying as a representative, ensure executor or administrator status is properly evidenced under s 28(2).

• Respond to information requests. When the public trustee requests additional information under s 27(2), provide it promptly. Failure to comply may result in refusal to consider the application (s 27(3)).

• Use ACAT where appropriate. If dissatisfied with the public trustee’s decision under s 29, use the review route to ACAT under s 31. Ensure you receive and retain the reviewable decision notice the trustee is required to give under s 30.

Recordkeeping and audit trails

• Maintain audit trails for all payments, register entries, notices, and communications with the public trustee. Payment to the public trustee or to a claimant must be supported by contemporaneous documentation to substantiate discharge of liability or entitlement.

Practical checklists

• Companies should implement an annual unclaimed monies review: identify candidate amounts (6-year rule s 6(2)), update company registers by 31 January, prepare the verified notice by 31 March, publish the statutory public notice, and monitor the one-year follow-up to pay to the trustee and discharge liability (s 10).

• Liquidators should implement a six-month review of distributions and unclaimed dividends and make payments and provide particulars to the public trustee when the six-month threshold is met (s 4).

• Trustees should publish application guidance and ensure that reviewable decision notices are issued and processes align with ACAT requirements (ss 27-31).

Following these steps aligns statutory deadlines, evidentiary requirements and administrative processes with the Act’s text and reduces the risk of penalties or litigation under the enforcement provisions (ss 9-11, s 4(2)-(3)).