New South Wales Consolidated Regulations

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Unclaimed funds

41.10 Unclaimed funds

(cf SCR Part 50, rule 6B)

(1) In this rule,
"unclaimed funds" means funds that have been paid into court in relation to any matter, including any interest accruing on those funds, other than funds or interest that have been paid to the Treasurer pursuant to a direction under rule 41.9(b), where--
(a) judgment has been entered on the matter, and
(b) the whole or any part of the funds or interest remains unclaimed after 6 years from either of the following--
(i) the making of an order for the payment of the whole of the funds or interest (or any part that is unclaimed),
(ii) if no such order is made, the date of the judgment.
(2) Any matter in respect of which there are unclaimed funds must be referred to the court by the registrar for a direction under subrule (3).
(3) The court may direct the registrar to pay the unclaimed funds to the Treasurer for payment into the Consolidated Fund.
(4) On the application of a person entitled to unclaimed funds paid to the Treasurer under subrule (3), the court may direct the Treasurer to pay the funds into court for payment to the person so entitled.
(5) If satisfied that a person's failure to make such an application was due to the fact that--
(a) the person was then a person under legal incapacity, or
(b) the unclaimed funds could not be dealt with until the happening of an event subsequent to the direction referred to in subrule (3),
the court may also order the Treasurer to pay into court, for payment to the person, an amount equivalent to the interest (if any) that would have been payable had the unclaimed funds paid to the Treasurer been deposited funds during the period between the date of their payment to the Treasurer under subrule (3) and the date of their repayment by the Treasurer under subrule (4).

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