New South Wales Consolidated Acts

CIVIL PROCEDURE ACT 2005 - SECT 178

178 Constitution etc of fund

(cf s33ZA FCA)

(1) Without limiting the operation of section 177 (2), in making provision for the distribution of money to group members, the Court may provide for--

(a) the constitution and administration of a fund consisting of the money to be distributed, and

(b) either--

(i) the payment by the defendant of a fixed sum of money into the fund, or

(ii) the payment by the defendant into the fund of such instalments, on such terms, as the Court directs to meet the claims of group members, and

(c) entitlements to interest earned on the money in the fund.

Note--: The Principal Registrar of the Court, or another registrar of the Court nominated by the Principal Registrar, must deduct 2.5% from an amount received as interest or a dividend on the fund and pay the deducted amount into the Consolidated Fund--see section 18A.

(2) The costs of administering a fund are to be borne by the fund, or by the defendant in the representative proceedings, or by both, as the Court directs.

(3) If the Court orders the constitution of a fund under subsection (1), the order must--

(a) require notice to be given to group members in such manner as is specified in the order, and

(b) specify the manner in which a group member is to make a claim for payment out of the fund and establish the group member's entitlement to payment, and

(c) specify a day (which is 6 months or more after the day on which the order is made) on or before which the group members are to make a claim for payment out of the fund, and

(d) make provision in relation to the day before which the fund is to be distributed to group members who have established an entitlement to be paid out of the fund.

(4) The Court may allow a group member to make a claim after the day fixed under subsection (3) (c) if--

(a) the fund has not already been fully distributed or applied in accordance with an order under subsection (5), and

(b) it is just to do so.

(5) On application by the defendant after the day fixed under subsection (3) (d), the Court may make such orders as it thinks fit for the payment from the fund to the defendant of the money remaining in the fund.