Commonwealth Numbered Regulations - Explanatory Statements

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BANKING (UNCLAIMED MONEYS) REGULATIONS 1992 NO. 117

Statutory Rules 1992 No. 117

Issued by Authority of the Treasurer

Banking Act 1959

Banking (Unclaimed Moneys) Regulations

Subsection 69 (9) of the Banking Act 1959 (the Act) requires the Treasurer to produce a publication listing all details of accounts containing unclaimed moneys remitted to the Treasurer each year.

The Act currently states that this publication shall be in the form of a Gazette, or by such other manner as is prescribed. Up until now, no Regulations have been issued to prescribe alternative publication choices.

The proposed Regulation allows the Treasurer to publish details of unclaimed moneys by a general publication other than a Gazette. At the same time as publishing the booklet, a notice will be inserted in the Gazette informing the public of publication details and information on how to obtain copies.