Document ID: chunk:federal_register_of_legislation:C2004A03415:body:0:p27
Version: federal_register_of_legislation:C2004A03415
Segment Type: other
Provision Reference: 
Character Range: 67351–70017

(b) of this section.
"(3) Except so far as the contrary intention appears, a reference in this Part to functions or powers of the Corporation under the Fund provisions is a reference to functions or powers conferred, or expressed to be conferred, as mentioned in paragraph (1) (a) or (b).

Commission to be notified of amendments to business rules
"122bc. (1) Where an amendment is made, by way of rescission, alteration or addition, to the business rules of the Corporation, the Corporation shall, forthwith after the making of the amendment, give written notice of the amendment to the Commission.
"(2) A notice under subsection (1) shall:
     (a) set out the text of the amendment;
     (b) specify the date on which the amendment was made; and
     (c) contain an explanation of the purpose of the amendment.
"(3) If the notice required to be given by subsection (1) is not given within 21 days after the amendment is made, the amendment ceases to have effect.
"(4) Where the Commission receives a notice under this section, it shall forthwith send a copy of the notice to each member of the Ministerial Council.
"(5) The Ministerial Council may, within 28 days after the receipt by the Commission of a notice under this section, disallow the whole or a specified part of the amendment to which the notice relates.
"(6) Where the Ministerial Council disallows the whole or a part of an amendment to which a notice under this section relates, the Commission shall forthwith give notice of the disallowance to the Corporation and, upon receipt by the Corporation of the notice of disallowance, the amendment, to the extent of the disallowance, ceases to have effect.

"Division 3—The Fund

Establishment
"122ca. (1) The Corporation shall establish and keep a fund, to be known as the National Guarantee Fund, which shall be administered by the Board on behalf of the Corporation.
"(2) The assets of the Fund are the property of the Corporation, but shall be kept separately from all other property and shall be held on trust for the purposes set out in the Fund provisions.

Property constituting Fund
"122cb. The Fund shall consist of:
     (a) money paid into the Fund under subsection 122zf (1);
     (b) property that has vested in the Corporation, and become part of the Fund, by virtue of subsection 122zf (2);
     (c) money paid into the Fund under subsection 97 (3);
     (d) money paid into the Fund under section 122ec or 122fb;
     (e) the interest and profits from time to time accruing from the investment of the Fund and paid into the Fund under subsection 122dc (2);
     (f) money recovered by or on behalf of the Corporation in the exercise of