New South Wales Consolidated Acts

DORMANT FUNDS ACT 1942 - SECT 12

12 Proposals-dormant fund not exceeding $10,000

(1) Where the Commissioner has formulated proposals under section 11 in relation to a dormant fund the value of which does not exceed $10,000 the Commissioner shall forward a copy of such proposals to the Attorney-General.

(2) The Attorney-General may approve or disapprove of any proposals forwarded under this section or may refer them back to the Commissioner for further consideration.

(3) Where the Attorney-General disapproves of proposals the Commissioner may formulate further proposals a copy of which shall thereupon be forwarded to the Attorney-General.

(4) Where the Attorney-General refers proposals back to the Commissioner for further consideration the Commissioner may vary or modify such proposals or formulate other proposals, and a copy of the proposals as so varied or modified or formulated shall thereupon be forwarded to the Attorney-General.

(5) Where the Attorney-General has approved of any proposals forwarded under this section, the Commissioner shall sign the draft order which shall thereupon have effect as an order made under this Act.