Northern Territory Numbered Acts

MOTOR ACCIDENTS (COMPENSATION) COMMISSION ACT 2014 (NO 42 OF 2014) - SECT 35

    (1)     The Territory guarantees the repayment of, and the interest payable on:

    (a)     if this Act commences before the banking sale date – each deposit held by the Commission in carrying on what was TIO's banking business under section 32 ; and

    (b)     in any event, on and after the banking sale date – each residual deposit.

    (2)     Any amount payable under the guarantee is payable from the Central Holding Authority, which is appropriated accordingly.

    (3)     This section expires on 31 March 2015.