Treasury Legislation Amendment (Unclaimed Money and Other Measures)Act 2012 (176 of 2012)

Schedule 1   Banking

Banking Act 1959

1   Subsection 69(1)

Omit "not less than 7 years.", substitute:

not less than:

(a) 3 years; or

(b) if a greater number of years is specified in the regulations - that greater number of years;

beginning:

(c) at the most recent time when the account was operated on either by deposit or withdrawal; or

(d) if another time is ascertained in accordance with the regulations - at that other time.