(1)  A person is not entitled to recover from the Guarantee Fund any amount equal to amounts or to the value of other benefits –

(a) that have already been paid to or received by the person; or

(b) that have already been determined and are payable to or receivable by the person; or

(c) that (in the opinion of the Trust) are likely to be paid to or received by the person; or

(d) that (in the opinion of the Trust) might, but for neglect or failure on the person’s part, have been paid or payable to or received or receivable by the person –

from other sources in respect of the pecuniary loss to which a claim relates.

(2)  The Trust may, at its absolute discretion, pay to a person the whole or part of an amount referred to in subsection (1)(c) if satisfied that payment is warranted to alleviate hardship, but nothing in this subsection affects section 385 (Repayment of certain amounts).