(1) Money held by an enterprise in an account is not unclaimed money at any
particular time (despite section 7) if, at that time, the recovery of the
money by its owner is not barred by operation of law and--
(a) the enterprise
holding the money also holds other money (not being unclaimed money) of the
owner in an account, or
(b) the enterprise (or an officer of an enterprise
that is not a natural person) knows or has reason to believe that the owner of
the money wishes to retain the money in the account.
(2) However, an
enterprise (or an officer of an enterprise that is not a natural person) does
not have reason to believe that an owner wishes to retain money in an account
merely because the owner does not respond to a communication from the
enterprise (or does not respond as specified in the communication), even if
the terms of the communication suggest that the owner's failure to respond
indicates such a wish.
(3) For the purposes of this Act, money is not
unclaimed money if--
(a) the money is, or is of a class, prescribed by the
regulations as exempt from the operation of this Act, or
(b) the money is
held by an enterprise that is, or is of a class, prescribed by the regulations
as exempt from the operation of this Act, or
(c) the amount of money in the
account concerned does not exceed $100.
