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.