South Australian Numbered Acts

UNCLAIMED MONEY ACT 2021 (NO 45 OF 2021) - SECT 3

3—Interpretation

In this Act, unless the contrary intention appears—

"corporation" includes the liquidator, administrator or receiver of a corporation;

"owner" of money means the person who is entitled to the money and includes the person's executors, administrators and assigns and the legal representative or agent of the person, executor, administrator or assign;

"prescribed amount" means—

            (a)         $50; or

            (b)         if another amount is prescribed by regulation for the purposes of this definition—that amount;

"repealed Act" means the Unclaimed Moneys Act 1891

;

"unclaimed money" means any sum of money (including, but not limited to, principal, interest, dividends, bonuses and profits) that—

            (a)         has come into the possession of a corporation by virtue of a transaction with the owner of the money occurring in this State; and

            (b)         has been held by the corporation for at least 5 years; and

            (c)         in respect of which there has been no claim by the owner against the corporation.