Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 1341

1341. (1) Where, at the end of a period of 6 years after the day on which
money was paid to the credit of the Account, that money has not been paid out
of the Account in accordance with this section, that money shall be paid to
the Consolidated Revenue Fund.

(2) Where a person claims to be entitled to any money paid to the credit of
the Account, the Minister shall, if he or she is satisfied that the person is
entitled to that money, direct payment of that money to be made to the person
out of the Account or, if the money has been paid to the Consolidated Revenue
Fund in accordance with this section, direct payment to the person of an
equivalent amount, which shall be paid out of money appropriated by the
Parliament for the purpose.

(3) A person who is dissatisfied with the decision of the Minister in respect
of a claim made by the person in accordance with subsection (2) may appeal to
the Court and the Court may confirm, disallow or vary the decision of the
Minister.

(4) Where a person claims to be entitled to money that has been paid to
another person in accordance with this section, the Minister is not under any
liability to that first-mentioned person in respect of that money, but, if the
first-mentioned person is entitled to that money, that person may recover that
money from the other person.

(5) Where a person claims to be entitled to money, being money an amount
equivalent to which has been paid to another person in accordance with
subsection (2) out of money appropriated by the Parliament for the purpose,
the Minister is not under any liability to that first-mentioned person in
respect of that money, but, if the first-mentioned person is entitled to that
money, that person may recover that equivalent amount from the other person.

(6) The reference in subsection (1) to money paid to the credit of the Account
includes a reference to money paid to the credit of the Companies Liquidation
Account established by section 428 of the Companies Act 1981, being money that
was paid into the Account under section 1338 of this Act.