(1) When the Secretary receives an unclaimed money statement under this
Division, the Secretary is to--
(a) send by post or email to each person for
whom or on whose behalf any money referred to in the statement is held a
notice (an
"individual notice" ) in writing addressed to the person at the person's
address shown in the statement stating the particulars of the money held for
or on behalf of that person, and
(b) cause notification to be published in
the Gazette (a
"Gazette notification" ) stating the particulars of the money held for or on
behalf of each of those persons.
(2) Each individual notice and the
Gazette notification is to state that, if the money is not paid out of the
trust account or other place in which it is held within 3 months after the
date of publication of the Gazette notification, the person holding the money
will be required to pay it to the Secretary.
(3) At any time after the
expiration of that 3 months the Secretary may, by a notice in writing served
personally, by email or by post on the person by whom the money is held,
require that person--
(a) to pay to the Secretary any money referred to in the
Gazette notification that has not been previously paid by that person out of
the trust account or other place in which it is held, and
(b) to furnish to
the Secretary, within such period as may be specified in the notice to the
person, a statement showing particulars of any payments made out of the money
referred to in the Gazette notification since the unclaimed money statement
was made.
(4) The Secretary must pay any money received by the Secretary
under this section into the Compensation Fund.
(5) Within 2 months after 31
December in each year, the Secretary must pay into the Consolidated Fund all
money received by the Secretary and paid into the Compensation Fund under this
section during the period of 12 months ending on that 31 December (less any of
that money that has been paid from the Compensation Fund to the person
entitled to the money).
(5A) A statement or notice may only be sent by email
to a person if the person has provided an email address for receiving
statements or notices of that kind.
(6) A person who fails to comply with the
requirements of any notice served on the person under this section is guilty
of an offence.
