Document ID: chunk:federal_register_of_legislation:C2024C00613:section:123
Version: federal_register_of_legislation:C2024C00613
Segment Type: section
Provision Reference: s 123
Character Range: 248785–249560

123  Obligations and liabilities of the representative for a defunct institution
  Any obligation or liability imposed by this Act on a participating defunct institution is taken to be imposed instead on the representative for the institution.
Note 1: An example of an obligation that may be imposed on the defunct institution is the obligation under section 54 to provide a direct personal response to a person. That obligation will be imposed instead on the representative.
Note 2: An example of a liability that may be imposed on the defunct institution is the liability under section 149 to pay funding contribution. That liability will be imposed instead on the representative.

Division 5—Participating lone institutions

Subdivision A—Participating lone institutions