Northern Territory Consolidated Acts Northern Territory Consolidated Acts(1) If the Funds Management Committee is of the opinion that the Fidelity Fund is likely to be insufficient to meet the Fund's ascertained and contingent liabilities, the Committee may do any or all of the following:
(a) postpone all payments relating to all or any class of claims out of the Fund;
(b) impose a levy under section 394 ;
(c) make partial payments of the amounts of one or more allowed claims out of the Fund with payment of the balance being a charge on the Fund;
(d) make partial payments of the amounts of 2 or more allowed claims out of the Fund on a pro rata basis, with payment of the balance ceasing to be a liability of the Fund.
(2) In deciding whether to do any or all of the things mentioned in subsection (1), the Committee must:
(a) consult with and take advice from the Law Society; and
(b) have regard to hardship if relevant information is known to the Committee; and
(c) endeavour to treat outstanding claims equally and equitably, but may make special adjustments in cases of hardship.
(3) If the Committee declares a decision is made under subsection (1)(d):
(a) the balance specified in the declaration ceases to be a liability of the Fund; and
(b) the Committee may (but need not) at any time revoke the declaration in relation to either the whole or a specified part of the balance and the balance or that part of the balance again becomes a liability of the Fund.
(4) A decision of the Committee made under this section is final and not subject to appeal or review.