Banking Laws Amendment (Unclaimed Money) Act 2015 (129 of 2015)

Schedule 1   Amendments

Part 1   Main amendments

Life Insurance Act 1995

9   After section 216

Insert:

216A Disclosure of information relating to unclaimed money

(1) This section applies if an amount of unclaimed money is specified on a register kept by ASIC under subsection 216(13).

(2) A person must not disclose:

(a) particulars of the amount of unclaimed money; or

(b) particulars of the person to whom the money is payable (the payee );

to a person other than the payee or an agent of the payee.

Note: This subsection is specified in Schedule 3 to the Freedom of Information Act 1982 with the effect that a document containing particulars protected from disclosure by this subsection is an exempt document under that Act.

(3) Subsection (2) does not apply if the disclosure is authorised by section 216.