THE CORPORATIONS LAW

CHAPTER 8 - THE FUTURES INDUSTRY

PART 8.6 - FIDELITY FUNDS

SECTION 1231   PAYMENTS OUT OF FUND  

1231    Subject to this Part, there shall be paid out of the fidelity fund of a futures organisation in such order as the board of the futures organisation deems proper:

(a)  the amount of all claims, including costs, allowed by the board or established against the futures organisation under this Part;

(b)  all legal and other expenses incurred in investigating or defending claims made under this Part or incurred in relation to the fund or in the exercise by the futures organisation or the board of the rights, powers and authorities vested in it by this Part in relation to the fund;

(c)  all premiums payable in respect of contracts of insurance or indemnity entered into by the futures organisation under section 1249;

(d)  the expenses incurred in the administration of the fund, including the salaries and wages of persons employed by the futures organisation or the board in relation to the fund; and

(e)  all other money payable out of the fund in accordance with the provisions of this Chapter.