UNCLAIMED MONEY ACT 2008 - SECT 11 Business to keep business register
UNCLAIMED MONEY ACT 2008 - SECT 11
Business to keep business register(1) A business that holds unclaimed money within the meaning of paragraph (a) of the definition of unclaimed money in section 3(1) must—
(a) establish a business register of unclaimed money, in the prescribed form at, or readily accessible from, its principal office or place of business in Victoria; and
(b) by 31 March each year, enter in the business register the prescribed details in relation to unclaimed money held as at 1 March in that year.
Note
Failure to comply with this subsection is an offence—see section 17.
(2) The entry of details of unclaimed money in the business register does not affect or prejudice the rights of the owner of the unclaimed money and the owner may recover the unclaimed money from the business at any time before it is paid to the Registrar under section 12.
(3) A business may deduct out of unclaimed money payable to an owner an amount in respect of the reasonable expenses of a business in holding unclaimed money and locating the owner.