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

Schedule 1   Amendments

Part 1   Main amendments

Banking Act 1959

5   Subsection 69(12)

Insert:

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.