Document ID: chunk:federal_register_of_legislation:C2024C00224:section:8
Version: federal_register_of_legislation:C2024C00224
Segment Type: section
Provision Reference: s 8
Character Range: 323682–325140

8                                                         (a) the Registrar applies to the Federal Court in accordance with subsection (3) for an order in relation to the amount secured; and                                                                                                                                                (a) direct the ADI to pay the secured amount (the original amount) to the Registrar; and
                                                          (b) the court orders that an amount be paid to a person (the ultimate beneficiary)                                                                                                                                                                                                  (b) pay an amount to the ultimate beneficiary equal to the amount the court orders to be paid; and
                                                                                                                                                                                                                                                                                                                                              (c) if the amount to be paid to the ultimate beneficiary is less than the original amount—pay the remainder to the person who secured the original amount by bank guarantee or, if that person no longer exists, the person to whom the Federal Court orders it to be paid.