South Australia regulation

Unclaimed Money Regulations 2024

In ForceSA

Jurisdiction

South Australia

Collection

regulation

Plain English Summary

2/10 complexity

These regulations set specific numeric thresholds and a corporate classification used by the Unclaimed Money Act 2021. They prescribe $50 for one test in section 4 of the Act and $0 for the tests in sections 6 and 7, and declare an incorporated legal practice to be a prescribed kind of corporation for section 4(2)(d). The rules take effect when made and affect entities that must report or account for unclaimed money under the Act.

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Current sections

Direct links to the current provisions in Unclaimed Money Regulations 2024.

Unclaimed Money Regulations 2024

South Australia Unclaimed Money Regulations 2024 under the Unclaimed Money Act 2021

Contents 1 Short title 2 Commencement 3 Interpretation 4 Prescribed amount 5 Corporations—prescribed kind Legislative history

1—Short title These regulations may be cited as the Unclaimed Money Regulations 2024. 2—Commencement These regulations come into operation on the day on which they are made. 3—Interpretation In these regulations— Act means the Unclaimed Money Act 2021. 4—Prescribed amount Pursuant to paragraph (b) of the definition of prescribed amount in section 3 of the Act, the prescribed amount is— (a) for the purposes of section 4 of the Act—$50; and (b) for the purposes of section 6 of the Act—$0; and (c) for the purposes of section 7 of the Act—$0. 5—Corporations—prescribed kind For the purposes of section 4(2)(d) of the Act, an incorporated legal practice (within the meaning of the Legal Practitioners Act 1981) is a corporation of a prescribed kind. Legislative history Notes • For further information relating to the Act and subordinate legislation made under the Act see the Index of South Australian Statutes or www.legislation.sa.gov.au. Principal regulations Year No Reference Commencement 2024 94 Gazette 31.10.2024 p4039 31.10.2024: r 2

Source text

Sourced from South Australian Legislation (legislation.sa.gov.au), CC BY 4.0.

1 Unclaimed Money Regulations 2024

South Australia Unclaimed Money Regulations 2024 under the Unclaimed Money Act 2021

Contents 1 Short title 2 Commencement 3 Interpretation 4 Prescribed amount 5 Corporations—prescribed kind Legislative history