House of Representatives

Explanatory Memorandum

(Circulated by the authority of the Parliamentary Secretary to the Treasurer, the Hon Bernie Ripoll MP)

Chapter 2 - Statement of Compatibility with Human Rights

Banking Amendment (Unclaimed Money) Bill 2013

This Bill is compatible with the human rights and freedoms recognised or declared in the international instruments listed in section 3 of the Human Rights (Parliamentary Scrutiny) Act 2011.

Overview

These amendments will ensure ADIs comply with the legislation and enable some account holders to reunite with their moneys sooner.

Human rights implications

The Bill does not engage any of the applicable rights or freedoms.

Conclusion

This Schedule is compatible with human rights as it does not raise any human rights issues.

The Hon. Mr Bernie Ripoll, Parliamentary Secretary to the Treasurer