(1)  This Part applies to all principal and interest money, and all dividends, bonuses, profits and sums of money, which are held or owing by –

(a) any company which is registered or incorporated in this State; and

(b) any person, firm, body or institution carrying on business as traders and having their principal office or place of business in this State; and

(c) a State entity –

excluding amounts referred to in Part 3 , 4 or 5 .

(2)  For the purposes of this Part, an amount is unclaimed money if –

(a) a period of 12 months has passed since the day the amount became payable to the owner; and

(b) no claim has been made by the owner against the holder; and

(c) the amount is, in relation to the holder, the relevant minimum amount.

(3)  For the purposes of subsection (2)(c) , the relevant minimum amount, in relation to a holder, is –

(a) $50; or

(b) if another relevant minimum amount is determined in relation to the holder under subsection (4)(b)  – that amount; or

(c) if another relevant minimum amount is determined in relation to holders generally under subsection (4)(a) and there is no relevant minimum amount determined under subsection (4)(b) in relation to the holder – the amount determined under subsection (4)(a) .

(4)  The Treasurer may –

(a) by notice, determine a relevant minimum amount, in relation to holders generally, for the purposes of subsection (2)(c) ; or

(b) by written notice given to a holder, determine a relevant minimum amount, in relation to the holder, for the purposes of subsection (2)(c) .

(5)  The Treasurer may, by written notice given to a holder, determine that this Part, or any specified provision of this Part, does not apply to the holder.

(6)  The Treasurer may, by written notice given to a person or entity not specified in subsection (1) , determine that this Part, or any specified provision of this Part, will apply to that person or entity.