Document ID: chunk:federal_register_of_legislation:C2025C00135:section:216:p2
Version: federal_register_of_legislation:C2025C00135
Segment Type: section
Provision Reference: s 216 (pt 2/3)
Character Range: 386598–389218

for the purposes of this paragraph in relation to the statement.
 (6B) For the purposes of paragraph (6A)(b), ASIC may, in writing, approve a form for giving a statement referred to in subsection (1) or (4).
 (6C) Without limiting subsection (6B), a form approved under that subsection may be:
 (a) the form of a statutory declaration; or
 (b) a form that requires a matter to be verified by a statutory declaration.
 (7) If:
 (a) unclaimed money has been paid by a company to the Commonwealth under this section; and
 (b) ASIC or an authorised officer certifies in writing that, apart from this section, the company or a successor company would have paid that money to a person;
the Minister must:
 (c) cause the unclaimed money to be paid to that company; and
 (d) direct the company to pay the money to the person specified in the direction.
 (7A) If an amount is paid to a company under subsection (7) on or after 1 July 2013, the Minister must also:
 (a) cause to be paid to the company the amount of interest (if any) worked out in accordance with the regulations; and
 (b) direct the company to pay the amount to the person specified in the direction.
 (7B) Regulations made for the purposes of paragraph (7A)(a) may involve different rates of interest for different periods over which the interest accrues. For this purpose, rate includes a nil rate.
 (7C) Interest under paragraph (7A)(a) does not accrue in relation to a period before 1 July 2013.
 (8) A direction must be in writing.
 (9) The company must not intentionally or recklessly fail to comply with a direction under paragraph (7)(d) or (7A)(b).
Penalty: 50 penalty units.
Note: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.
 (10) If a company satisfies ASIC or an authorised officer that an amount paid to the Commonwealth under this section is more than the amount that would have been payable under the policy to the policy owner, an amount equal to the excess is to be refunded to the company.
 (11) Subject to subsection (7), if a company pays an amount to the Commonwealth under this section, the company is, upon that payment, discharged from further liability in respect of that amount.
 (12) The Consolidated Revenue Fund is appropriated to the extent necessary for the purposes of this section.
 (13) ASIC must keep a register that contains:
 (a) particulars of each amount of unclaimed money specified in a statement given to ASIC for the purposes of subsection (1); and
 (b) particulars of the persons to whom, if this section had not been enacted, the money would have been payable.
 (14) The