(1) Where, in any
proceedings brought to establish a claim against the Trust, in respect of the
Guarantee Fund, the Supreme Court is satisfied that the default to which the
claim relates is a default which in fact occurred and to which this Division
applies and that the claimant has a valid claim, it must, by
order —
(a)
declare the occurrence, and the date of the occurrence, of the default and the
amount of the pecuniary loss sustained by the claimant; and
(b)
direct the Trust to deal with the claim in accordance with the provisions of
this Division; and
(c)
award such costs and direct the payment of interest on the claim in accordance
with sections 360 and 361, as it thinks fit.
(2) An order made
under subsection (1) does not affect the functions of the Trust under
Subdivision 5.