Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 885H

The source of funds--general

                   There must be an adequate source of funds available to cover claims made under the compensation arrangements in respect of Division 3 losses and in respect of any other losses covered by the arrangements.

Note 1:       For example, the source of funds may consist of:

(a)    a fidelity fund; or

(b)    insurance arrangements; or

(c)    an irrevocable letter of credit.

Note 2:       The source of funds does not have to consist of a single thing. It may consist of a combination of different things.



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