5Register of unclaimed money

5 Register of unclaimed money

(1)  A holder of unclaimed money to which this Part applies must –

(a) establish, in the prescribed form, a register, of all unclaimed money, that is at or readily accessible from its principal office or place of business; and

(b) at least once every 12 months, enter in the register the prescribed details in relation to each sum of unclaimed money held.

(2)  The register is to be open to the inspection of all persons at that principal office or place of business, during ordinary business hours, on payment of the fee, if any, that the holder determines, that is a fee not exceeding the relevant maximum amount.

(3)  For the purposes of subsection (2) , the relevant maximum amount, in relation to a holder, is –

(a) $5; or

(b) if another relevant maximum amount is determined in relation to the holder under subsection (4)(b)  – that amount; or

(c) if another relevant maximum amount is determined in relation to holders generally under subsection (4)(a) and there is no relevant maximum amount determined under subsection (4)(b) in relation to the holder – the amount determined under subsection (4)(a) .

(4)  The Treasurer may –

(a) by notice, determine a relevant maximum amount, in relation to holders generally, for the purposes of subsection (2) ; or

(b) by written notice given to a holder, determine a relevant maximum amount, in relation to the holder, for the purposes of subsection (2) .

(5)  The entry of details of unclaimed money in the register does not affect or prejudice the rights of the owner of the unclaimed money and the owner may recover the unclaimed money from the holder at any time before it is paid to the Treasurer under section 7 .