Australian Capital Territory Current Acts

WORKERS COMPENSATION ACT 1951 - SECT 179D

    (1)     If this part applies to an insurer, the terrorism cover temporary reinsurance fund (the temporary fund ) is established.

    (2)     The temporary fund consists of—

        (a)     the amounts of levies paid by insurers under this part; and

        (b)     amounts borrowed by the Territory for the fund; and

        (c)     any contributions made by the Territory to the fund; and

        (d)     any amount paid to the fund by the DI fund manager under section 166B (2); and

        (e)     income from the investment of amounts in the fund; and

        (f)     any other amounts that may lawfully be paid into the fund.

    (3)     The temporary fund is to be managed by the Territory and money paid into it is taken to be trust money under the Financial Management Act 1996

.

    (4)     However, the Financial Management Act 1996

, section 53A (Unclaimed trust money) does not apply to the temporary fund.