New South Wales Consolidated Acts New South Wales Consolidated Acts(cf s 126 MAA)
To the extent that any amounts are paid out of the Nominal Defendant's Fund in
respect of a claim or judgment pursuant to section 190 the Nominal Defendant
is, where an insolvent insurer (if it had provided indemnity to that extent
under a third-party policy) would have been entitled to recover any sum under
a contract or arrangement for re-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 Nominal Defendant to recover from the
re-insurer and pay into the Nominal Defendant's Fund the amount due under that
contract or arrangement.