Document ID: chunk:federal_register_of_legislation:C2004A03415:body:0:p34
Version: federal_register_of_legislation:C2004A03415
Segment Type: other
Provision Reference: 
Character Range: 84634–87379

securities exchange (other than money in that fidelity fund) has vested in the Corporation, and become part of the Fund, by virtue of subsection 122zf (2);
the amount of that money shall be taken, or an amount equal to the value of that property shall be deemed, as the case may be, to have been paid into the Fund and to be attributable to:
     (c) in the case of an Exchange subsidiary—the Exchange; or
     (d) in any other case—that securities exchange or recognised securities exchange.
"(5) For the purposes of subsection (2), where an amount is paid out of the Fund in connection with a claim that is, for the purposes of Division 9, a transferred claim in relation to a securities exchange or recognised securities exchange, the amount shall be taken to be attributable to:
     (a) in the case of an Exchange subsidiary—the Exchange; or
     (b) in any other case—that securities exchange or recognised securities exchange.

Payments into and out of development account
"122gc. (1) Subject to this section, a participating exchange shall keep money paid to it under section 122gb in a separate account designated as a securities industry development account.
"(2) A participating exchange shall not make a payment out of a development account unless the payment is made:
     (a) for a purpose in relation to which an approval is in force under subsection (3) in relation to the payment; or
     (b) into the Fund.
"(3) The Ministerial Council may approve in writing, in relation to payments to be made out of development accounts, purposes relating to the development of the securities industry.
"(4) Without limiting the generality of subsection (3), the purpose of reimbursing a person in respect of money that the person spent, before the relevant commencement, for a purpose relating to the development of the securities industry shall be taken, for the purposes of that subsection, to be a purpose relating to the development of the securities industry.
"(5) An approval under subsection (3) may include conditions relating to the payments to which the approval relates.
"(6) A participating exchange that makes, in contravention of subsection (2), a payment out of a development account shall pay into the account, from its general funds, an amount equal to the amount of the first-mentioned payment.
"(7) A participating exchange that:
     (a) makes as permitted by virtue of paragraph (2) (a) a payment out of a development account; and
     (b) contravenes a condition that, when the payment was made, was included in an approval in force under subsection (3) in relation to the payment;
shall pay into the account, from its general funds, an amount equal to the amount of the first-mentioned payment.
"(8) In this section,