Document ID: chunk:federal_register_of_legislation:C2004A03415:body:0:p29
Version: federal_register_of_legislation:C2004A03415
Segment Type: other
Provision Reference: 
Character Range: 72178–74765

claim by a person against the Corporation under Division 6 that has been allowed; and
     (b) an amount is payable out of the Fund in connection with a claim by a person against the Corporation under Division 7 that has been allowed;
then, regardless of the order in which those persons became respectively entitled to make those claims, the amount referred to in paragraph (a) shall be paid out of the Fund in priority to the amount referred to in paragraph (b).

Accounts of Fund
"122da. (1) The Corporation shall establish and keep proper accounts of the Fund and shall, before 31 August in each year, cause a balance sheet in respect of those accounts to be made out as at the preceding 30 June.
"(2) The Corporation shall appoint a registered company auditor to audit the accounts of the Fund.
"(3) The auditor appointed by the Corporation shall audit the accounts of the Fund and shall audit each balance sheet and shall cause a report on the accounts and balance sheet to be laid before the Board within one month after the balance sheet is made out.
"(4) The Corporation shall, within 14 days after a report is laid before the Board under this section, give to the Commission a copy of the report and a copy of the balance sheet to which the report relates.
"(5) The Corporation shall cause a copy of each report made out under this section, and a copy of the balance sheet to which it relates, to be laid before the annual general meeting of each participating exchange next following the making of that report.
"(6) In subsection (5), 'annual general meeting' has the same meaning as that expression has:
     (a) in the Companies Act 1981; or
     (b) in the provisions of a law of a participating State or participating Territory that correspond with that Act;
as the case requires.

Investment of Fund
"122db. (1) Money in the Fund that is not immediately required for its purposes may be invested by the Corporation in a permitted manner.
"(2) Property in which money is invested pursuant to subsection (1) forms part of the Fund.

Interest and profits from investment of Fund
"122dc. (1) The interest and profits from time to time accruing from the investment of the Fund shall be applied by the Corporation to pay:
     (a) the expenses incurred in the administration of the Fund, including the salaries and wages of persons employed by the Corporation or the Board in relation to the Fund; and
     (b) all premiums payable in respect of contracts of insurance or indemnity entered into by the Corporation under section 122zc.
"(2) An amount of interest or profit that