Australian Capital Territory Current Acts

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Liquidators to account to DI fund manager

    (1)     This section applies if a liquidator receives an amount (the settlement amount ) under section 171E (2) (a) (i).

    (2)     For each prescribed period, the liquidator must give the DI fund manager a written statement setting out the payments made by the liquidator out of the settlement amount during the period.

    (3)     A statement under subsection (2) must—

        (a)     be given to the DI fund manager not later than 2 weeks after the end of the prescribed period to which it relates; and

        (b)     be certified as correct by an auditor.

    (4)     In this section:

"prescribed period", in relation to a settlement amount, means—

        (a)     the period of 3 months starting the day after the settlement amount is received; and

        (b)     each following period of 3 months, ending at the end of the 3-month period when the liquidator pays the last amount to the claimant out of the settlement amount.

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