New South Wales Consolidated Acts New South Wales Consolidated ActsTo the extent that any amounts are paid out of a guarantee fund in respect of an indemnity under Division 2, a claims administrator is, where an insolvent insurer (if it had provided indemnity to that extent under a contract of insurance) would have been entitled to recover any sum under a contract or arrangement for re-insurance or co-insurance, entitled to the benefit of and may exercise the rights and powers of the insolvent insurer under that contract or arrangement so as to enable the claims administrator to recover from the re-insurer or co-insurer and pay into the guarantee fund the amount due under that contract or arrangement.