Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) For the purposes of this regulation:
(a) a statement that contains 50 or more items must be recorded on computer disk; and
(b) a statement that contains less than 50 items must be recorded either in writing or on computer disk.
(2) A statement under subsection 216 (1) of the Act of unclaimed money as at the end of a calendar year:
(a) if it is in writing -- must be in accordance with Form 3 in Schedule 4; or
(b) if it is recorded on computer disk -- must contain particulars of the number and total value of unclaimed policies and particulars, for each policy for which money is unclaimed, of:
(i) the policy number; and
(ii) the full name of the life or lives insured; and
(iii) the last known address of the life or lives insured; and
(iv) the full name of the policy owner; and
(v) the last known address of the policy owner; and
(vi) the amount due to the policy owner; and
(vii) the date the amount became due; and
(viii) the State or Territory for which the policy is registered.
(3) A statement under subsection 216 (4) of the Act of money paid between the end of the calendar year and the date on which the statement is given to ASIC:
(a) if it is in writing -- must be in accordance with Form 4 in Schedule 4; or
(b) if it is recorded on computer disk -- must contain particulars of the number and total value of policies claimed and particulars, for each policy for which money has been paid, of:
(i) the policy number; and
(ii) the full name of the claimant; and
(iii) the date of the claim; and
(iv) the date the claim was paid; and
(v) the amount paid.
(4) A statement recorded on computer disk must be accompanied by a lodgment form in accordance with Form 5 in Schedule 4.
(5) A life company must notify ASIC in writing if there is no unclaimed money.