New South Wales Consolidated Acts

HOME BUILDING ACT 1989 - SECT 105U

105U Investment of funds of licence holder

(1) A licence holder, if required to do so by the Authority, must provide the Authority with details of the way in which its funds relating to insurance under Part 6 or cover under Part 6B and other funds are invested.

(2) It is a condition of the licence of a licence holder that the holder comply with subsection (1).

(3) The funds of a licensed insurer relating to insurance under Part 6 are the funds of the insurer derived from the payment of insurance premiums for insurance under that Part and from their investment.

(4) The funds of a licensed provider relating to cover under Part 6B are the funds of the provider derived from the payment of premiums or charges for the cover and from their investment.