9BUnclaimed trust money held by licensee

#### 9B Unclaimed trust money held by licensee 9B Unclaimed trust money held by licensee > > (1) Money that has been held by a licensee for more than 2 years in a trust account kept by the licensee is unclaimed money for the purposes of this Act. > > > (2) A licensee who has held money for more than 2 years in a trust account kept by the licensee must make reasonable efforts— > > > > > (a) to identify and locate the owner of the money, and > > > > > (b) to ensure that the money is paid to the owner of the money. > > > > Maximum penalty— > > > > > (a) for an individual—250 penalty units, or > > > > > (b) otherwise—500 penalty units. > > Note. > > Unclaimed money is required to be paid to the Chief Commissioner after 30 June in each year. See section 10. > > **s 9B:** Ins 2013 No 3, Sch 2 \[2\]. Am 2025 No 37, Sch 8\[4\].