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CORPORATIONS ACT 2001 No. 50, 2001 - SECT 973
Application of Fund in respect of certain claims
- may buy securities for the purpose of complying with
subsection 950(3), 950(4), 952(4), 952(5), 954G(2), 954S(2) or 954Z(2),
paragraph 960(2)(a) or subsection 963(3); and
- may pay money out of the Fund for the purpose of so buying securities or
for any other purpose connected with complying with that subsection or
(2) Securities bought by SEGC as mentioned in subsection (1) form part of
the Fund until they are supplied in accordance with this Part to a claimant or
sold in accordance with subsection (3).
- SEGC buys securities for the purpose of complying, in relation
to a claim, with a provision referred to in paragraph (1)(a); and
- SEGC satisfies the claim by paying an amount to the claimant;
SEGC must, as soon as practicable after satisfying the claim, sell the
securities and pay the proceeds of the sale into the Fund.
(4) In this section:
"securities" includes security benefits, within the meaning of
Division 6A, other than amounts of money.
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