Sections 12-13: Client money assets Section 13: Meaning of "dormant" in relation to eligible client money
This section provides that client money can be classed as dormant if the responsible institution is satisfied that the owner has been "gone-away" for at least six years.
	An owner can be defined as "gone-away" if there has been no communication from the owner or anyone acting on their behalf. "Gone-away" is a standard industry term used when an owner cannot be contacted successfully. There are a range of indicators that may be considered when determining if an owner is gone-away, such as whether mail has been returned, an email has bounced back, or a cheque has not been cashed. The precise definition varies and is expected to evolve over time as new technologies emerge. The section captures this concept broadly to allow for these variations.
	Subsection (5) defines a responsible institution as the investment institution assessing whether the asset meets the dormancy condition.