Australian Capital Territory Numbered Acts Australian Capital Territory Numbered Acts13. After section 53 of the Principal Act the following sections are inserted in Part VII:
“53A. (1) For the purposes of this section, money held in a trust banking account is unclaimed trust money if—
(a) a period not less than 6 years has elapsed since the date on which the money became payable; and
(b) during that period, no person entitled to the money has requested that the money be paid to him or her or according to his or her direction.
“(2) Where on 1 January in any year a trust banking account contains unclaimed trust money, the Chief Executive responsible for maintaining the account shall, on or before 31 January next following, deliver to the Treasurer a statement of all unclaimed trust money held in the account.
“(3) The statement shall set out—
(a) the name, and last known address, of each person entitled to unclaimed trust money held in the account;
(b) the amount of the trust money to which each of those persons is entitled;
(c) the banking institution, and the branch of the institution, with which the trust money is held; and
(d) the Chief Executive shall cause the particulars set out in the statement in relation to each amount of unclaimed monies to be published in a daily newspaper published in the Territory and in the Gazette .
“(4) The total amount shown in the statement shall be paid into the Territory banking account at the time of the delivery of the statement and, upon being paid into that account, shall become public money of the Territory.
“(5) A person who claims to be entitled to any money paid into the Territory banking account in accordance with subsection (4) may apply to the Treasurer for a payment of an amount equal to the money to which he or she is entitled.
“(6) The Treasurer shall consider each application and either refuse it or grant it wholly or partly.
“(7) The Treasurer shall give the applicant written notice of his or her decision.
“53B. Application may be made to the Administrative Appeals Tribunal for a review of a decision of the Treasurer under subsection 53A (6) refusing an application wholly or partly.
“53C. A notice given under subsection 53A (7) shall be in accordance with the requirements of the Code of Practice in force under subsection 25B (1) of the Administrative Appeals Tribunal Act 1989 .”.