Document ID: chunk:federal_register_of_legislation:C2004A03877:front:0:p11
Version: federal_register_of_legislation:C2004A03877
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Character Range: 25845–28483

his or her legal representative.
    "(5) The total amount shown in the statement shall be paid by the bank to the Commonwealth at the time of the delivery of the statement.";
    (d) by omitting subsection (9) and substituting the following subsection:
    "(9) The Treasurer shall cause particulars of every sum shown in a statement delivered under this section to be:
       (a) published in the Gazette; or
       (b) made available to the public (whether or not on the payment of a fee) in such other manner as is prescribed.";
    (e) by inserting after subsection (11) the following subsection:
    "(11a) It is the intention of the Parliament that a law of a State or Territory has no effect insofar as it requires a bank to:
       (a) pay unclaimed moneys to, or to an authority of, a State or Territory; or
       (b) lodge a return relating to unclaimed moneys with, or with an authority of, a State or Territory.";

    (f) by omitting from subsection (12) the definition of "trading bank".
(2) The amendments made by paragraphs (1) (a), (b), (c), (d) and (f) apply in relation to:
    (a) statements of unclaimed moneys as at 31 December next following the date of commencement of this subsection; and
    (b) statements of unclaimed moneys as at a date after that 31 December.
(3) Subsection 69 (11a) of the Principal Act as amended by this Act applies in relation to:
    (a) unclaimed moneys as at 31 December next following the date of commencement of this subsection; and
    (b) unclaimed moneys as at a date after that 31 December.
(4) In the application of section 69 of the Principal Act as amended by this Act in relation to unclaimed moneys in relation to a bank that, immediately before the commencement of this subsection, was a savings bank as defined by subsection 5 (1) of the Principal Act, a reference to unclaimed moneys does not include a reference to moneys to the credit of an account that, as at 31 December next following the date of commencement of this subsection, has not been operated on (either by deposit or withdrawal) for a period of not less than 8 years.

21. After section 70 of the Principal Act the following section is inserted:

Delegation by Treasurer
"70a. (1) The Treasurer may, by writing, delegate all or any of the Treasurer's powers under sections 66 and 67 to a person occupying or performing the duties of:
    (a) the office of Governor or Deputy Governor of the Reserve Bank;
    (b) a specified office in the Reserve Bank Service; or
    (c) a specified office in the Department of the Treasury.
"(2) The delegate is, in the exercise of the power delegated under subsection