Summary

Amends the:

and to: extend to seven years the period before funds held by authorised deposit-taking institutions (ADI) and life insurance providers are treated as unclaimed moneys; and provide only authorised access to information on unclaimed moneys; to: exempt ADI accounts created for children and those that are held in a foreign currency from the unclaimed money provisions; remove the requirement for the Australian Securities and Investment Commission to publish details of unclaimed moneys in the Unclaimed Moneys Gazette; and expand the circumstances in which account holders can keep their ADI accounts active; and to make consequential amendments.