35ARegistrar may issue repayment notice

35A Registrar may issue repayment notice (1) If the Registrar is no longer satisfied that a person to whom a payment has been made under section 33(3) is the owner of the unclaimed money to which the payment related, the Registrar may issue a written notice to the person requiring repayment to the Registrar of the amount paid under section 33(3). (2) A repayment notice must specify— (a) the grounds on which the notice is issued; and (b) the amount that the person is required to repay; and (c) the period within which the person is required to repay the amount. (3) If a person to whom a repayment notice is issued does not repay the whole of the amount specified in the notice within the period specified in the notice, the person is liable to pay interest on the amount outstanding calculated on a daily basis from the end of the last day for repayment until the day it is repaid at the interest rate from time to time applying under Division 3. (4) Interest is not payable under subsection (3) in respect of any failure to pay interest under this section. (5) Despite subsection (3), a person to whom a repayment notice is issued is not liable to pay interest if the amount of the interest is less than $20. (6) If judgment is given by, or entered in, a Court for an amount required to be repaid under this section, the interest rate referred to in subsection (3) continues to apply, to the exclusion of any other interest rate, until the amount is repaid to the Registrar. (7) The Registrar, in such circumstances as the Registrar considers appropriate, may remit interest payable by a person under subsection (3) by any amount. S. 35B inserted by No. 24/2025 s. 34.