New South Wales Consolidated Acts New South Wales Consolidated Acts(cf s 123 MAA)
(1) The Nominal Defendant is by this section appointed as the agent and attorney of the person insured under a third-party policy issued by an insolvent insurer.
(2) As agent and attorney of such a person, the Nominal Defendant may exercise the rights and discharge the obligations of the person--(a) for the purpose of dealing with and finalising any claim against which the person is indemnified under the third-party policy, and(b) for the purpose of satisfying any such claim or any judgment against which the person is indemnified under the third-party policy, and(c) for any other purpose prescribed by the regulations.
(3) As agent and attorney of such a person, the Nominal Defendant may exercise the rights of the person in connection with the third-party policy--(a) for the purpose of proving in the winding-up of the insolvent insurer and receiving any dividends or other money payable to the person in the winding-up, and(b) for the purpose of recovering any money which the person is entitled under the third-party policy to recover from the person who issued the policy, being a policy referred to in paragraph (b) of the definition of
"third-party policy issued by an insolvent insurer" in section 184, and(c) for any other purpose prescribed by the regulations.
(4) The Nominal Defendant may exercise rights and discharge obligations as agent in the name of the person concerned, or in its own name.
(5) All rights vested in an insurer and all obligations imposed on an insurer, being rights or obligations--(a) arising from or relating to a third-party policy issued by an insolvent insurer to a person, and(b) which may or must be exercised or discharged for the purpose of--are vested in or imposed on the person.(i) dealing with and finalising any claim, or(ii) satisfying any claim or judgment, against which the person is indemnified under the policy,
(6) Subsection (5) is not to be construed so as to vest in or impose on a person, or to affect in any other way--(a) a right of an insurer to be indemnified by a re-insurer or an obligation of an insurer to indemnify a person, or(b) any other prescribed right or obligation.
(7) If the Nominal Defendant is, under this section, empowered to exercise any rights, or to discharge any obligations, of a person as agent and attorney, the person is not entitled, without the consent of the Nominal Defendant, to exercise those rights or discharge those obligations.
(8) The appointment effected by this section may be revoked only by an Act.
(9) If the Nominal Defendant is the agent and attorney of a person insured under a third-party policy issued by an insolvent insurer, the Nominal Defendant is also the agent and attorney for the purposes of this Part of any person who is authorised by this Act to take proceedings for damages against the insolvent insurer under the third-party policy.