Part IX
-
Miscellaneous
History
Pt IX heading inserted by No 5 of 2018, s 3 and Sch 2 item 11, applicable in relation to investigations that commence on or after 1 July 2018.
SECTION 69
Unclaimed moneys
(1)
For the purposes of this section,
unclaimed moneys
means all principal, interest, dividends, bonuses, profits and sums of money legally payable by an ADI but in respect of which the time within which proceedings may be taken for the recovery thereof has expired, and includes moneys to the credit of an account that has not been operated on either by deposit or withdrawal for a period of not less than:
(a)
7 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.
History
S 69(1) amended by No 129 of 2015, s 3 and Sch 1 item 1, by substituting
"
7 years
"
for
"
3 years
"
in para (a), effective 31 December 2015.
S 69(1) amended by No 176 of 2012, s 3 and Sch 1 item 1, by substituting
"
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.
"
for
"
not less than 7 years.
"
, effective 1 July 2013. No 176 of 2012, s 3 and Sch 1 item 8 contains the following transitional provision:
8 Transitional
-
supplementary statement and payment obligations
(1)
In addition to its effect apart from this subitem, section 69 of the
Banking Act 1959
also has the effect it would have if:
(a)
in subsection 69(3) of that Act, the words
"
within 3 months after the 31 December in each year
"
were omitted and the words
"
before the end of 31 May 2013
"
were substituted; and
(b)
in subsection 69(3) of that Act, the words
"
as at the end of the applicable assessment day
"
were inserted after
"
sums of unclaimed moneys
"
; and
(c)
the amendments made by items 1, 2, 3, 4 and 4B of this Schedule had commenced on 31 December 2012; and
(d)
any regulations made, in accordance with section 4 of the
Acts Interpretation Act 1901
, for the purposes of any of the following provisions of the
Banking Act 1959
had taken effect from the day on which the regulations are registered under the
Legislative Instruments Act 2003
:
(i)
paragraph 69(1)(b);
(ii)
paragraph 69(1)(d);
(iii)
subparagraph 69(1A)(b)(ii);
(iv)
subparagraph 69(1A)(b)(iv);
(v)
subparagraph 69(1A)(c)(ii);
(vi)
subsection 69(1B);
(vii)
subsection 69(1C);
(viii)
subsection 69(1D);
(ix)
subsection 69(1E);
(x)
subsection 69(3).
No double counting
(2)
For the purposes of the application to an ADI of section 69 of the
Banking Act 1959
(as that section has effect under subitem (1)),
unclaimed moneys
does not include any 7 year unclaimed amounts for the ADI.
(3)
For the purposes of this item, if:
(a)
an amount is required to be set out in an ADI
'
s statement under subsection 69(3) of the
Banking Act 1959
(as that subsection has effect otherwise than under subitem (1)); and
(b)
the ADI is required, by subsection 69(3) of the
Banking Act 1959
(as that subsection has effect otherwise than under subitem (1)), to deliver the statement to the Treasurer within 3 months after 31 December 2012;
the amount is a
7-year unclaimed amount
for the ADI.
Applicable assessment day
(4)
For the purposes of this item, the
applicable assessment day
for an ADI is:
(a)
30 May 2013; or
(b)
if the ADI, by written notice given to the Treasurer before 30 May 2013, nominates a day that is:
(i)
not earlier than 31 December 2012; and
(ii)
not later than 29 May 2013;
the nominated day.
(1AA)
Subsection
(1)
has effect subject to subsections
(1A)
,
(1B)
,
(1C)
,
(1D)
and
(1E)
.
History
S 69(1AA) inserted by No 176 of 2012, s 3 and Sch 1 item 2, effective 1 July 2013.
(1A)
However, the following are not unclaimed moneys:
(a)
money in an account that is denominated in a currency other than Australian currency;
(b)
money in a children
'
s account;
(c)
farm management deposits (within the meaning of the
Income Tax Assessment Act 1997
).
History
S 69(1A) substituted by No 129 of 2015, s 3 and Sch 1 item 2, effective 31 December 2015. S 69(1A) formerly read:
(1A)
However, farm management deposits (within the meaning of the
Income Tax Assessment Act 1997
) are not unclaimed moneys.
S 69(1A) substituted by No 34 of 2014, s 3 and Sch 1 item 1, effective 30 May 2014. S 69(1A) formerly read:
(1A)
However, farm management deposits (within the meaning of the
Income Tax Assessment Act 1997
) of an owner (within the meaning of that Act) are
unclaimed moneys
if, and only if:
(a)
they are to the credit of an account with an ADI; and
(b)
the account has not been operated on either by deposit or withdrawal for a period (the
inactive period
) of not less than:
(i)
3 years; or
(ii)
if a greater number of years is specified in the regulations
-
that greater number of years;
beginning:
(iii)
at the most recent time when the account was operated on either by deposit or withdrawal; or
(iv)
if another time is ascertained in accordance with the regulations
-
at that other time; and
(c)
after the period of:
(i)
3 years; or
(ii)
if a greater number of years is specified in the regulations
-
that greater number of years;
beginning at the start of the inactive period, the ADI has been unable to contact the owner about those farm management deposits after making reasonable efforts.
S 69(1A) amended by No 176 of 2012, s 3 and Sch 1 item 3, by substituting para (b) and (c), effective 1 July 2013. Para (b) and (c) formerly read:
(b)
the account has not been operated on either by deposit or withdrawal for a period of not less than 7 years; and
(c)
after the first 7 years of that period, the ADI has been unable to contact the owner about those farm management deposits after making reasonable efforts.
S 69(1A) inserted by No 147 of 2011, s 3 and Sch 5 item 21, applicable in relation to statements to be delivered: (a) within 3 months after 31 December 2012; and (b) within 3 months after the 31 December in each later year.
(1B)
However, moneys to the credit of an account specified in the regulations are
unclaimed moneys
if, and only if, the conditions specified in the regulations are satisfied.
Note:
For specification by class, see subsection
13(3)
of the
Legislation Act 2003
.
History
S 69(1B) amended by No 126 of 2015, s 3 and Sch 1 item 78, by substituting
"
Legislation Act 2003
"
for
"
Legislative Instruments Act 2003
"
in the note, effective 5 March 2016.
S 69(1B) inserted by No 176 of 2012, s 3 and Sch 1 item 4, effective 1 July 2013.
(1C)
However, deposits specified in the regulations are
unclaimed moneys
if, and only if, the conditions specified in the regulations are satisfied.
Note:
For specification by class, see subsection
13(3)
of the
Legislation Act 2003
.
History
S 69(1C) amended by No 126 of 2015, s 3 and Sch 1 item 78, by substituting
"
Legislation Act 2003
"
for
"
Legislative Instruments Act 2003
"
in the note, effective 5 March 2016.
S 69(1C) inserted by No 176 of 2012, s 3 and Sch 1 item 4, effective 1 July 2013.
(1D)
Subsection (1) does not apply to an account specified in the regulations.
Note:
For specification by class, see subsection
13(3)
of the
Legislation Act 2003
.
History
S 69(1D) amended by No 126 of 2015, s 3 and Sch 1 item 78, by substituting
"
Legislation Act 2003
"
for
"
Legislative Instruments Act 2003
"
in the note, effective 5 March 2016.
S 69(1D) inserted by No 176 of 2012, s 3 and Sch 1 item 4, effective 1 July 2013.
(1E)
Subsection (1) does not apply to a deposit specified in the regulations.
Note:
For specification by class, see subsection
13(3)
of the
Legislation Act 2003
.
History
S 69(1E) amended by No 126 of 2015, s 3 and Sch 1 item 78, by substituting
"
Legislation Act 2003
"
for
"
Legislative Instruments Act 2003
"
in the note, effective 5 March 2016.
S 69(1E) amended by No 34 of 2014, s 3 and Sch 1 item 2, by substituting
"
Subsection (1) does
"
for
"
Subsections (1) and (1A) do
"
, effective 30 May 2014.
S 69(1E) inserted by No 176 of 2012, s 3 and Sch 1 item 4, effective 1 July 2013.
(2)
For the purposes of this section, the debiting of a fee to an account shall be deemed not to be a withdrawal and the crediting to an account of interest payable by an ADI on that account shall be deemed not to be a deposit.
History
S 69(2) amended by No 90 of 2013, s 3 and Sch 1 item 1, by substituting
"
this section
"
for
"
subsections (1) and (1A)
"
, effective 1 July 2013. For application, transitional and savings provisions, see note under 69(3).
S 69(2) inserted by No 147 of 2011, s 3 and Sch 5 item 22, by substituting
"
subsections (1) and (1A)
"
for
"
subsection (1)
"
, applicable in relation to statements to be delivered: (a) within 3 months after 31 December 2012; and (b) within 3 months after the 31 December in each later year.
(3)
An ADI must, within 3 months after the 31 December in each year, deliver to the Treasurer a statement, complying with subsection
(4)
, of all sums of unclaimed moneys of not less than $100 (or such other amount as is prescribed) as at the end of the year, other than unclaimed moneys:
(a)
held in RSAs (within the meaning of the
Retirement Savings Accounts Act 1997
); or
(b)
(Repealed by No 70 of 2015)
(c)
held in accounts with the ADI that are operated on either by deposit or withdrawal between the end of the year and the day the statement is delivered to the Treasurer; or
(d)
held in an account with the ADI in respect of which the holder of the account, or an agent of the holder, has notified the ADI, between the end of the year and the day the statement is delivered to the Treasurer, that the holder wishes to treat the account as active.
History
S 69(3) amended by No 74 of 2023, s 3 and Sch 1 item 10, by omitting
"
and any regulations under subsection (3A)
"
after
"
subsection (4)
"
, effective 20 March 2024.
S 69(3) amended by No 129 of 2015, s 3 and Sch 1 item 3, by inserting para (d), effective 31 December 2015.
S 69(3) amended by No 70 of 2015, s 3 and Sch 1 items 25 and 26, by repealing para (b) and the note, effective 1 July 2015. Para (b) and the note formerly read:
(b)
held in FHSAs (within the meaning of the
First Home Saver Accounts Act 2008
); or
Note:
The
First Home Saver Accounts Act 2008
deals with unclaimed money held in FHSAs.
S 69(3) substituted by No 90 of 2013, s 3 and Sch 1 item 2, effective 1 July 2013. S 69(3) formerly read:
(3)
An ADI shall, within 3 months after the 31 December in each year, deliver to the Treasurer a statement, complying with subsection (4) and any regulations under subsection (3), of all sums of unclaimed moneys as at the end of the year, other than unclaimed moneys held in RSAs (within the meaning of the
Retirement Savings Accounts Act 1997
) or FHSAs (within the meaning of the
First Home Saver Accounts Act 2008
), of not less than $100 or such other amount as is prescribed.
Note:
The
First Home Saver Accounts Act 2008
deals with unclaimed money held in FHSAs.
History
S 69(3) amended by No 176 of 2012, s 3 and Sch 1 items 4A and 4B, by inserting
"
as at the end of the year
"
after
"
sums of unclaimed moneys
"
and substituting
"
other
"
for
"
higher
"
, effective 1 July 2013.
S 69(3) amended by No 92 of 2008, s 3 and Sch 2 items 2 and 3, by inserting
"
or FHSAs (within the meaning of the
First Home Saver Accounts Act 2008
)
"
after
"
Retirement Savings Accounts Act 1997
)
"
and inserting the note at the end, applicable from 1 October 2008.
No 90 of 2013, s 3 and Sch 1 item 8 contains the following application, transitional and savings provisions:
8 Application provision
(1)
The amendments made by Part 1 of this Schedule apply in relation to statements required to be delivered under section 69 of the
Banking Act 1959
for the year ending on 31 December 2013, and future years.
(2)
In addition, the amendments made by items 1 to 5 of this Schedule apply, and are taken always to have applied, in relation to statements required to be delivered under section 69 of the
Banking Act 1959
, as that section has effect under subitem 8(1) of Schedule 1 to the
Treasury Legislation Amendment (Unclaimed Money and Other Measures) Act 2012
.
(3)
For the purposes of subitem (2), subsection 69(3) of the
Banking Act 1959
, as amended by this Schedule, has effect as if:
(a)
the words
"
as at the end of the year
"
were omitted; and
(b)
in paragraph (c) of that subsection, the words
"
the end of the year
"
were omitted and the words
"
the day after the applicable assessment day
"
were substituted.
Note:
For paragraph (3)(a), subitem 8(1) of the
Treasury Legislation Amendment (Unclaimed Money and Other Measures) Act 2012
has the effect that the words
"
as at the end of the applicable assessment day
"
were substituted instead.
9 Transitional provision
-
supplementary statement about unclaimed moneys relating to accounts not operated for 3 years
(1)
This item applies if:
(a)
unclaimed moneys relating to a person are paid by an ADI to the Commonwealth in connection with a statement required to be delivered under section 69 of the
Banking Act 1959
, as that section would have had effect under subitem 8(1) of Schedule 1 to the
Treasury Legislation Amendment (Unclaimed Money and Other Measures) Act 2012
; and
(b)
the Treasurer is satisfied that the account to which the unclaimed moneys relate has been operated on either by deposit or withdrawal during the period:
(i)
starting on the day after the applicable assessment day for the ADI referred to in subitem 8(4) of that Schedule; and
(ii)
ending on the day the statement is delivered.
Note:
Subitem 8(1) of Schedule 1 to the
Treasury Legislation Amendment (Unclaimed Money and Other Measures) Act 2012
requires an additional statement to be delivered, and unclaimed moneys to be paid to the Commonwealth, in relation to accounts that have not been operated for 3 years as at 30 May 2013 or a day nominated by the ADI that falls between 31 December 2012 and 29 May 2013.
Treasurer to repay balance of account to ADI
(2)
Upon written application from an ADI within 3 months after the commencement of this item, the Treasurer must repay to the ADI the unclaimed moneys that the Treasurer is satisfied represents the balance of the person
'
s account as at the end of the applicable assessment day for the ADI.
Note:
See section 28 of the
Financial Management and Accountability Act 1997
(appropriation of the Consolidated Revenue Fund for the purposes of repayments by the Commonwealth).
ADI to pay amounts to person to whom unclaimed moneys relate
(3)
If an ADI is repaid an amount under subitem (2), the ADI must pay to the person an amount equal to any amounts deducted from the account in order for the ADI to pay the unclaimed moneys to the Commonwealth as mentioned in subitem (1).
Offence
(4)
An ADI commits an offence if:
(a)
the ADI is subject to a requirement under subitem (3); and
(b)
the ADI contravenes the requirement.
Penalty: 50 penalty units.
Delegation
(5)
The Treasurer may, by instrument in writing, delegate any of his or her functions or powers under this item to:
(a)
ASIC; or
(b)
a member of ASIC, or a staff member, within the meaning of the
Australian Securities and Investments Commission Act 2001
.
10 Savings provision
-
regulations
Regulations in force for the purposes of subsection 69(3) of the
Banking Act 1959
immediately before the commencement of this item have effect on and after that commencement for the purposes of that subsection as substituted by this Schedule, including as that subsection has effect under subitem 8(2) of this Schedule.
(3AA)
The ADI commits an offence if:
(a)
it does not give the Treasurer a statement as required by subsection (3); and
(b)
there is no determination in force under section
11
that this subsection does not apply to the ADI.
Penalty: 50 penalty units.
Note 1:
Chapter 2 of the
Criminal Code
sets out the general principles of criminal responsibility.
Note 2:
If a body corporate is convicted of an offence against this subsection, subsection 4B(3) of the
Crimes Act 1914
allows a court to impose a fine of up to 5 times the penalty stated above.
History
S 69(3AA) amended by No 82 of 2010 (as amended by No 136 of 2012), s 3 and Sch 6 item 29, by substituting
"
Penalty
"
for
"
Maximum penalty
"
in the penalty, effective 27 July 2010.
S 69(3AA) amended by No 154 of 2007, s 3 and Sch 1 item 51, by substituting
"
determination in force under section 11
"
for
"
order in force under section 11 determining
"
in para (b), effective 24 September 2007.
(3A)
(Repealed by No 74 of 2023)
History
S 69(3A) repealed by No 74 of 2023, s 3 and Sch 1 item 11, effective 20 March 2024. S 69(3A) formerly read:
(3A)
The regulations may require the statement to be delivered in a specified form in a specified kind of disk, tape, film or other medium.
(4)
The statement shall set out:
(a)
the name, and the last-known address, of each shareholder, depositor or creditor; and
(b)
the amount required to be paid under subsection (5); and
(c)
in the case of moneys to the credit of an account
-
the office or branch of the ADI at which the account was kept.
History
S 69(4) amended by No 90 of 2013, s 3 and Sch 1 item 3, by substituting
"
required to be paid under subsection (5)
"
for
"
due
"
in para (b), effective 1 July 2013. For application, transitional and savings provisions, see note under 69(3).
(5)
The ADI must, at the time of the delivery of the statement, pay the Commonwealth an amount equal to the total of all sums of unclaimed moneys covered by subsection (3) in relation to the ADI, as at the end of the year.
History
S 69(5) substituted by No 90 of 2013, s 3 and Sch 1 item 4, effective 1 July 2013. For application, transitional and savings provisions, see note under 69(3). S 69(5) formerly read:
(5)
The total amount shown in the statement shall be paid by the ADI to the Commonwealth at the time of the delivery of the statement.
(5A)
The ADI commits an offence if:
(a)
it does not pay, at the time of the delivery of the statement, the amount required by subsection (5); and
(b)
there is no determination in force under section
11
that this subsection does not apply to the ADI.
Penalty: 50 penalty units.
Note 1:
Chapter 2 of the
Criminal Code
sets out the general principles of criminal responsibility.
Note 2:
If a body corporate is convicted of an offence against this subsection, subsection 4B(3) of the
Crimes Act 1914
allows a court to impose a fine of up to 5 times the penalty stated above.
History
S 69(5A) amended by No 90 of 2013, s 3 and Sch 1 item 5, by omitting
"
specified in the statement, as
"
, effective 1 July 2013. For application, transitional and savings provisions, see note under 69(3).
S 69(5A) amended by No 82 of 2010 (as amended by No 136 of 2012), s 3 and Sch 6 item 29, by substituting
"
Penalty
"
for
"
Maximum penalty
"
in the penalty, effective 27 July 2010.
S 69(5A) amended by No 154 of 2007, s 3 and Sch 1 item 51, by substituting
"
determination in force under section 11
"
for
"
order in force under section 11 determining
"
in para (b), effective 24 September 2007.
(6)
Subject to subsection (7), an ADI is, upon payment to the Commonwealth of an amount as required by this section, discharged from further liability in respect of that amount.
(7)
Where unclaimed moneys have been paid to the Commonwealth under this section and the Treasurer or an authorized officer is satisfied that, but for subsection (6), a person would be paid those unclaimed moneys by the ADI by which they were paid to the Commonwealth (or, if that ADI is no longer carrying on banking business, by an ADI to which the business of the first-mentioned ADI has been sold or disposed of), those unclaimed moneys shall be paid to that ADI and the ADI shall thereupon pay those moneys to that person.
(7AA)
If unclaimed moneys are paid to an ADI under subsection (7) on or after 1 July 2013:
(a)
the Commonwealth must also pay to the ADI the amount of interest (if any) worked out in accordance with the regulations; and
(b)
the ADI must pay that amount to the person.
History
S 69(7AA) inserted by No 176 of 2012, s 3 and Sch 1 item 5, effective 1 July 2013.
(7AB)
Regulations made for the purposes of paragraph (7AA)(a) may involve different rates of interest for different periods over which the interest accrues. For this purpose,
rate
includes a nil rate.
History
S 69(7AB) inserted by No 176 of 2012, s 3 and Sch 1 item 5, effective 1 July 2013.
(7AC)
Interest under paragraph (7AA)(a) does not accrue in relation to a period before 1 July 2013.
History
S 69(7AC) inserted by No 176 of 2012, s 3 and Sch 1 item 5, effective 1 July 2013.
(7A)
The ADI commits an offence if:
(a)
it does not pay moneys to a person as required by subsection (7) or (7AA); and
(b)
there is no determination in force under section
11
that this subsection does not apply to the ADI.
Penalty: 50 penalty units.
Note 1:
Chapter 2 of the
Criminal Code
sets out the general principles of criminal responsibility.
Note 2:
If a body corporate is convicted of an offence against this subsection, subsection 4B(3) of the
Crimes Act 1914
allows a court to impose a fine of up to 5 times the penalty stated above.
History
S 69(7A) amended by No 176 of 2012, s 3 and Sch 1 item 6, by inserting
"
or (7AA)
"
after
"
(7)
"
in para (a), effective 1 July 2013.
S 69(7A) amended by No 82 of 2010 (as amended by No 136 of 2012), s 3 and Sch 6 item 29, by substituting
"
Penalty
"
for
"
Maximum penalty
"
in the penalty, effective 27 July 2010.
S 69(7A) amended by No 154 of 2007, s 3 and Sch 1 item 51, by substituting
"
determination in force under section 11
"
for
"
order in force under section 11 determining
"
in para (b), effective 24 September 2007.
(7B)
If an ADI satisfies the Treasurer that an amount paid by the ADI under subsection (5) exceeds the amount that should have been paid under that subsection, the Treasurer must refund the amount of the excess.
History
S 69(7B) inserted by No 90 of 2013, s 3 and Sch 1 item 6, effective 1 July 2013. For application, transitional and savings provisions, see note under 69(3).
(8)
The Consolidated Revenue Fund is appropriated for the purposes of, and to the extent necessary to give effect to, subsections (7), (7AA) and (7B).
History
S 69(8) amended by No 90 of 2013, s 3 and Sch 1 item 7, by substituting
"
(7), (7AA) and (7B)
"
for
"
(7) and (7AA)
"
, effective 1 July 2013. For application, transitional and savings provisions, see note under 69(3).
S 69(8) amended by No 176 of 2012, s 3 and Sch 1 item 7, by substituting
"
subsections (7) and (7AA)
"
for
"
subsection (7)
"
, effective 1 July 2013.
(9)
The Treasurer shall cause particulars of every sum shown in a statement delivered under this section to be made available to the public (whether or not on the payment of a fee) in such manner as the Treasurer determines.
History
S 69(9) substituted by No 129 of 2015, s 3 and Sch 1 item 4, effective 31 December 2015. S 69(9) formerly read:
(9)
The Treasurer shall cause particulars of every sum shown in a statement delivered under this section to be:
(a)
published in the
Gazette
; or
(b)
made available to the public (whether or not on the payment of a fee) in such other manner as the Treasurer determines.
(11)
The Treasurer or an ADI may apply to the Federal Court of Australia for a declaration whether any moneys are or are not unclaimed moneys within the meaning of this section and the Federal Court of Australia may make a declaration accordingly.
(11A)
It is the intention of the Parliament that a law of a State or Territory has no effect insofar as it requires an ADI to:
(a)
pay unclaimed moneys to, or to an authority of, a State or Territory; or
(b)
lodge a return relating to unclaimed moneys with, or with an authority of, a State or Territory.
(11B)
The Treasurer may, by instrument in writing, delegate any of his or her functions or powers under this section to:
(a)
a corporate Commonwealth entity for which the Treasurer is the responsible Minister; or
(b)
a member, or staff member, of such an entity.
History
S 69(11B) substituted by No 62 of 2014, s 3 and Sch 8 item 2, effective 1 July 2014. S 69(11B) formerly read:
(11B)
The Treasurer may, by instrument in writing, delegate any of his of her functions or powers under this section to:
(a)
a Commonwealth authority for which the Treasurer is the responsible Minister; or
(b)
a member, or staff member, of such an authority.
In this section,
Commonwealth authority
and
responsible Minister
have the respective meanings given by the
Commonwealth Authorities and Companies Act 1997
.
(11C)
The reference to the Treasurer in paragraph (3AA)(a) is to be read as including a reference to the authority or person to whom the Treasurer has delegated his or her function under subsection (3).
(12)
In this section:
authorized officer
,
means the Secretary of the Department of the Treasury or an officer of that Department authorized by the Secretary to act under this section.
History
Definition of
"
authorized officer
"
amended by No 5 of 2011, s 3 and Sch 7 item 29, by substituting
"
Secretary of
"
for
"
Secretary for
"
, effective 19 April 2011.
children
'
s account
means an account:
(a)
whose terms and conditions require it to be held by, or for the benefit of, a person under 18; and
(b)
that is opened:
(i)
in the name of a person who is under 18 at the time; or
(ii)
by the trustee of a trust for the benefit of a person who is under 18 at the time.
History
Definition of
"
children
'
s account
"
inserted by No 129 of 2015, s 3 and Sch 1 item 5, effective 31 December 2015.
corporate Commonwealth entity
has the same meaning as in the
Public Governance, Performance and Accountability Act 2013
.
History
Definition of
"
corporate Commonwealth entity
"
inserted by No 62 of 2014, s 3 and Sch 8 item 3, effective 1 July 2014.
responsible Minister
has the same meaning as in the
Public Governance, Performance and Accountability Act 2013
.
History
Definition of
"
responsible Minister
"
inserted by No 62 of 2014, s 3 and Sch 8 item 3, effective 1 July 2014.
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