Document ID: chunk:federal_register_of_legislation:C2025C00134:section:233
Version: federal_register_of_legislation:C2025C00134
Segment Type: section
Provision Reference: s 233
Character Range: 851456–852747

233  Financial assistance to be subject to conditions
 (1) The payment to a trustee of a fund of a grant of financial assistance is subject to the following conditions:
 (a) a condition that the amount of financial assistance granted will be deposited in the corpus of the fund;
 (b) a condition that the amount will be applied, within a period determined by the Minister:
 (i) in making payments to persons who were beneficiaries in the fund at the time the fund suffered the eligible loss; or
 (ii) for the benefit of those persons in such other manner as the Minister approves in writing;
 (c) a condition that a trustee of the fund will prepare and give to the Minister such reports on the application of the amount as are required by the Minister;
 (d) such other conditions (if any) as the Minister determines and notifies in writing to a trustee of the fund.
 (2) Despite any law of the Commonwealth, a State or a Territory, whether written or unwritten, or any provision of a trust deed or other rules according to which a fund is administered:
 (a) a trustee of a fund must comply with a condition mentioned in paragraph (1)(b); and
 (b) the trustee does not contravene the law, trust deed or rules by complying with such a condition.

Division 3—Repayment of financial assistance