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 7.5 - COMPENSATION REGIMES FOR FINANCIAL MARKETS  

Division 4 - NGF Compensation regime  

Subdivision C - The NGF  

SECTION 889I   MINIMUM AMOUNT OF THE NGF  

889I(1)   [ ``minimum amount'']  

The minimum amount in relation to the NGF is:

(a) unless paragraph (b) applies - $80,000,000; or

(b) if a determination is in force under subsection (2) - the amount specified in the determination.

889I(2)   [ Alternative minimum amount]  

The SEGC may, in writing, determine an amount (whether greater than, or less than, $80,000,000) to be the minimum amount in relation to the NGF. The determination does not come into force until it has been approved by the Minister.

889I(3)   [ Publication]  

The SEGC must publish in the Gazette notice of a determination that has come into force under subsection (2). The notice must specify the date when the determination came into force.

889I(4)   [ Shortfall of NGF]  

If the amount in the NGF falls below the minimum amount, the SEGC must consider what action needs to be taken.