New South Wales Consolidated Acts
[Index]
[Table]
[Search]
[Search this Act]
[Notes]
[Noteup]
[Previous]
[Next]
[Download]
[Help]
HOME BUILDING ACT 1989 - SECT 103P
Building Insurers' Guarantee Fund
(1) There is established a fund, to be known as the Building Insurers'
Guarantee Fund, belonging to the Guarantee Corporation.
(2) The following is
to be paid into the Fund-- (a) money required to be paid into the Fund out of
the Policyholders Protection Fund in accordance with section 16D of the
Insurance Protection Tax Act 2001 ,
(b) the interest and any other amounts
from time to time accruing from the investment of the Fund,
(c) money
recovered by the Guarantee Corporation under this Part, including money
recovered by the Guarantee Corporation by the exercise of a beneficiary's
rights assigned to the Guarantee Corporation under this Part,
(d) money
borrowed for the purposes of the Fund.
(3) The following is to be paid from
the Fund-- (a) money required to be paid from the Fund under Division 2,
(b)
payments relating to the costs and expenses of the Guarantee Corporation
incurred in or in connection with the exercise of its functions under this
Part,
(c) money required to be paid from the Fund into the Policyholders
Protection Fund in accordance with section 16F of the Insurance Protection
Tax Act 2001 ,
(d) repayments of money borrowed for the purposes of the Fund.
(4) The Guarantee Corporation may invest money in the Fund that is not
immediately required for the purposes of the Fund-- (a) if the
Guarantee Corporation is a GSF agency for the purposes of Part 6 of the
Government Sector Finance Act 2018 --in any way that the
Guarantee Corporation is permitted to invest money under that Part, or
(b) if
the Guarantee Corporation is not a GSF agency for the purposes of Part 6 of
the Government Sector Finance Act 2018 --in any way approved by the Minister
with the concurrence of the Treasurer.
AustLII: Copyright Policy
| Disclaimers
| Privacy Policy
| Feedback