Queensland Consolidated Acts Queensland Consolidated Acts(1) Any funds standing to the credit of the deceased, or the deceased's personal representative, with a financial institution at or after the time a notice is given to a financial institution under this section are charged in the hands of the financial institution from the time the notice is given or the time the funds come into the institution's hands, as the case may be.
(2) However, funds held on a joint account or as a trustee, other than as the deceased's personal representative, are not subject to the charge.
(3) The charge attaches to secure payment of the following--
(a) the expenses recoverable under section 4(2);
(b) any costs awarded in a proceeding to recover the expenses;
(c) any proper costs of enforcing a judgement in the proceeding.
(4) A charge under this section is lower in priority than any earlier charge unless the earlier charge provides otherwise.
(5) The chief executive may give a written notice to a financial institution about the charge.
(6) The notice about the charge must state the following--
(a) the notice is given under this section;
(b) the name and address, if known, of the deceased;
(c) the amount currently subject to the charge;
(d) the general effect of this section, including the following--
(i) the charge applies to funds standing to the credit of the deceased, or the deceased's personal representative, in, or afterwards coming into, the institution's hands;
(ii) the charge is lower in priority than any earlier charge (unless the earlier charge provides otherwise);
(iii) the institution must pay the funds, other than funds subject to an earlier charge of higher priority, to the chief executive within 7 days after the notice is given to the extent of the amount the notice states is currently subject to the charge;
(iv) payment in accordance with the notice is a valid discharge of the institution's liability to the person otherwise entitled to the funds paid.
(7) Further notices may be given to correct a mistake or to state a different amount if circumstances change.
(8) If a financial institution is given a notice under this section, it must pay the funds, other than funds subject to an earlier charge of higher priority, to the chief executive within 7 days after the notice is given to the extent of the amount the notice states is currently subject to the charge.
(9) Payment to the chief executive in accordance with a notice under this section is a valid discharge of the institution's liability to the person otherwise entitled to the funds paid.