Document ID: chunk:federal_register_of_legislation:C2025C00165:section:70g
Version: federal_register_of_legislation:C2025C00165
Segment Type: section
Provision Reference: s 70G
Character Range: 402008–402847

70G  Purposes of the Account
  The purposes of the Account are as follows:
 (a) making a payment under a contract or arrangement whose making was authorised under section 70C;
 (b) making a payment under a contract or arrangement whose making was authorised under section 131A of the Insurance Act 1973;
 (c) making a payment under a contract or arrangement whose making was authorised under section 251A of the Life Insurance Act 1995;
 (d) repaying a borrowing, and paying interest on a borrowing, made under any of the following sections:
 (i) section 70D;
 (ii) section 131B of the Insurance Act 1973;
 (iii) section 251B of the Life Insurance Act 1995;
 (e) meeting the expenses of administering the Account.
Note: See section 80 of the Public Governance, Performance and Accountability Act 2013 (which deals with special accounts).