Document ID: chunk:federal_register_of_legislation:C2008A00105:clause:2_70g
Version: federal_register_of_legislation:C2008A00105
Segment Type: clause
Provision Reference: sch 2 cl 70G
Character Range: 108176–109003

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 21 of the Financial Management and Accountability Act 1997 (debits from Special Accounts).