Company obligations

You need to understand your obligations about unclaimed moneys.

Unclaimed moneys for a company include:

  • deposits
  • securities
  • dividends
  • bonuses
  • profits
  • or other moneys payable to a member of a company.

The Department of Treasury and Finance can only accept money if:

  • it has been unclaimed for a period of three years
  • the company's head or principal office is in the Northern Territory.

What is included

The Companies (Unclaimed Moneys) Act only applies to unclaimed moneys that are:

  • in the nature of a deposit with or security of the company or, dividends, bonuses, profits or other money payable to a member of the company
  • held by a company or a natural person, partnership, or a company whose head or principal office is not located in the Northern Territory
  • not required to be lodged with another authority under a law of the Territory or of the Commonwealth.

Read the law.

Examples of unclaimed monies can include:

  • client accounts with banking institutions
  • deceased estates
  • life insurance policies that have matured
  • lottery prizes and internet and phone betting accounts
  • superannuation moneys
  • moneys for companies that have been deregistered
  • shares/acquisitions under the Corporations Act.

Last updated: 27 March 2018