(1) On the death of
any person leaving a sum of money not exceeding the amount of $1 200, or such
other amount as may for the time being be declared by proclamation 4 ,
standing to his credit in any ADI if no probate or administration is produced
to that ADI within one month of the death of the deceased person, and no
notice in writing of any will and of intention to prove it or of an intention
to apply for administration is given to the ADI within that period, the ADI
may apply that sum of money —
(a) in
payment of the funeral expenses of the deceased person, or in reimbursing any
person who has paid those expenses, and in payment of the balance, if any, to
any person who appears to the satisfaction of the manager of the ADI to be the
widower, widow, parent or child of the deceased person or a person who was
living as a de facto partner of the deceased person immediately before the
deceased person’s death; or
(b) in
payment to such other persons or for such other purposes as may be declared
and authorised by proclamation from time to time,
and payment of that
sum of money accordingly shall be a valid discharge to the ADI against the
claims of any other person whomsoever.
(2) In subsection (1)
—
ADI means authorised deposit-taking institution as
defined in section 5 of the Banking Act 1959 of the Commonwealth.
[Section 139 amended: No. 62 of 1955 s. 15; No. 57
of 1964 s. 11; No. 78 of 1965 s. 4; No. 113 of 1965 s. 8; No. 80 of 1973 s. 3;
No. 26 of 1999 s. 59; No. 25 of 2002 s. 52.]