Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .

PART 7.10B - FINANCIAL SERVICES COMPENSATION SCHEME OF LAST RESORT  

Division 6 - Financial matters  

SECTION 1069Q   APPLICATION OF MONEY BY CSLR OPERATOR  

1069Q(1)    
The money of the CSLR operator is to be applied only:

(a)    to pay compensation under section 1063 ; and

(b)    to pay AFCA ' s unpaid fees under section 1069B ; and

(c)    to pay AFCA ' s accumulated unpaid fees under section 1069C ; and

(d)    to pay the CSLR operator ' s administrative costs; and

(e)    to reimburse to ASIC the costs that ASIC has notified to the CSLR operator under subsection 9(4) of the Financial Services Compensation Scheme of Last Resort Levy (Collection) Act 2023 ; and

(f)    to establish and restore the capital reserve (within the meaning of the Financial Services Compensation Scheme of Last Resort Levy (Collection) Act 2023 ).

1069Q(2)    
Subsection (1) does not prevent investment of money.