THE CORPORATIONS LAW

CHAPTER 7 - SECURITIES

PART 7.10 - THE NATIONAL GUARANTEE FUND

Division 3 - The National Guarantee Fund

SECTION 935   INTEREST AND PROFITS FROM INVESTMENT OF FUND  

935(1)  [Application of interest and profits]  

The interest and profits from time to time accruing from the investment of the Fund shall be applied by SEGC to pay:

(a)  the expenses incurred in the administration of the Fund, including the salaries and wages of persons employed by SEGC or the Board in relation to the Fund; and

(b)  all premiums payable in respect of contracts of insurance or indemnity entered into by SEGC under section 982; and

(c)  principal, interest and other amounts payable by SEGC in respect of money borrowed, and security given, under section 930A.

935(2)  [Interest and profits not immediately required]  

An amount of interest or profit that accrues from the investment of the Fund and is not immediately required for the purposes referred to in subsection (1) shall be paid into the Fund.