(1) Subject to
section 354, a claim does not lie against the Guarantee Fund unless the
prospective claimant notifies the Trust of the default concerned —
(a)
within the period of 6 months after the prospective claimant becomes
aware of the default; or
(b)
within a further period allowed by the Trust; or
(c) if,
on an application for review of the Trust’s decision, the State
Administrative Tribunal allows a further time after the Trust refuses to do
so — within a period allowed by the Tribunal.
(2) The State
Administrative Tribunal or the Trust may allow a further period referred to in
subsection (1) if satisfied that —
(a) it
would be reasonable to do so after taking into account all ascertained and
contingent liabilities of the Guarantee Fund; and
(b) it
would be appropriate to do so in a particular case having regard to matters
the Tribunal or the Trust thinks appropriate.