Document ID: chunk:federal_register_of_legislation:C2024C00819:section:33za
Version: federal_register_of_legislation:C2024C00819
Segment Type: section
Provision Reference: s 33ZA
Character Range: 255667–257521

33ZA  Constitution etc. of fund
 (1) Without limiting the operation of subsection 33Z(2), in making provision for the distribution of money to group members, the Court may provide for:
 (a) the constitution and administration of a fund consisting of the money to be distributed; and
 (b) either:
 (i) the payment by the respondent of a fixed sum of money into the fund; or
 (ii) the payment by the respondent into the fund of such instalments, on such terms, as the Court directs to meet the claims of group members; and
 (c) entitlements to interest earned on the money in the fund.
 (2) The costs of administering a fund are to be borne by the fund, or by the respondent in the representative proceeding, as the Court directs.
 (3) Where the Court orders the constitution of a fund mentioned in subsection (1), the order must:
 (a) require notice to be given to group members in such manner as is specified in the order; and
 (b) specify the manner in which a group member is to make a claim for payment out of the fund and establish his or her entitlement to the payment; and
 (c) specify a day (which is 6 months or more after the day on which the order is made) on or before which the group members are to make a claim for payment out of the fund; and
 (d) make provision in relation to the day before which the fund is to be distributed to group members who have established an entitlement to be paid out of the fund.
 (4) The Court may allow a group member to make a claim after the day fixed under paragraph (3)(c) if:
 (a) the fund has not already been fully distributed; and
 (b) it is just to do so.
 (5) On application by the respondent in the representative proceeding after the day fixed under paragraph (3)(d), the Court may make such orders as are just for the payment from the fund to the respondent of the money remaining in the fund.