Victorian Current Acts Victorian Current Acts(1) Amounts standing to the credit of the Consultancy Services Fund established under section 43A of the Financial Institutions (Victoria) Act 1992 immediately before the transfer date form part of the Supervision Fund established under section 41 of that Act.
(2) VicFIC must pay out of the Supervision Fund at such time or times as VicFIC determines—
(a) to APRA—
(i) such amount in respect of liabilities relating to leave or other entitlements of employees of VicFIC who become employees of APRA, being liabilities existing immediately before the date on which the relevant employees become employees of APRA, as is determined by VicFIC; and
(ii) such amount in respect of any other liabilities of VicFIC that, by reason of this Act, become liabilities of APRA, as is determined by VicFIC;
(b) to ASIC—
(i) such amount in respect of liabilities relating to leave or other entitlements of employees of VicFIC who become employees of ASIC, being liabilities existing immediately before the date on which the relevant employees become employees of ASIC, as is determined by VicFIC; and
(ii) such amount in respect of any other liabilities of VicFIC that, by reason of this Act, become liabilities of ASIC, as is determined by VicFIC;
(c) to each building society, credit union and friendly society, an amount determined by VicFIC as representing the amount of supervision levy paid by the building society, credit union or friendly society into the supervision fund and unexpended.