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Bills of the current Parliament

Although every effort is made to ensure the accuracy of bills homepages, the authoritative sources for verifying the progress of bills are the House of Representatives Votes and Proceedings and the Journals of the Senate.

Banking Laws Amendment (Unclaimed Money) Bill 2015


Type
Government
Originating house
House of Representatives
Status
Before Reps
Portfolio
Treasury

Summary

Amends the: Banking Act 1959 and Life Insurance Act 1995 to: extend to seven years the period before funds held by authorised deposit-taking institutions (ADI) and life insurance providers are treated as unclaimed moneys; and provide only authorised access to information on unclaimed moneys; Banking Act 1959 to: exempt ADI accounts created for children and those that are held in a foreign currency from the unclaimed money provisions; remove the requirement for the Australian Securities and Investment Commission to publish details of unclaimed moneys in the Unclaimed Moneys Gazette; and expand the circumstances in which account holders can keep their ADI accounts active; and Freedom of Information Act 1982 to make consequential amendments.

Progress of bill

For committee reference information, please see the Notes section at the end of this page.

House of Representatives
Introduced and read a first time 13/08/15  
Second reading moved 13/08/15  
     

Text of bill

  • First reading

MS-Word PDF HTML

Explanatory memoranda

  • Explanatory memorandum

MS-Word PDF HTML

Second reading speeches


Proposed amendments

No proposed amendments have been circulated.

Schedules of amendments

Bills Digest



Notes