Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) If the company has not transferred the unclaimed consideration to the person entitled to it within 12 months after the publication of a copy of the records in the Gazette , the company must transfer the consideration to ASIC within 1 month after the end of that 12 month period.
(1A) An offence based on subsection (1) is an offence of strict liability.
Note: For strict liability , see section 6.1 of the Criminal Code .
(2) The company is then discharged from liability to any person in respect of the consideration.
(3) ASIC must deal with the consideration under Part 9.7.
(4) Except as provided by subsection (2), this Part does not deprive a person of any right or remedy to which the person is entitled against a liquidator or company.