Document ID: chunk:federal_register_of_legislation:C2004A03415:body:0:p47
Version: federal_register_of_legislation:C2004A03415
Segment Type: other
Provision Reference: 
Character Range: 116301–118828

"122ya. Subject to this Part, the Corporation may, at any time after a person becomes entitled to make a claim, allow and settle the claim.

Successful claimant entitled to costs and disbursements
"122yb. Where a claim is allowed, then, in addition to the claimant's other rights under this Part, the claimant is entitled to be paid out of the Fund an amount equal to the total of the reasonable costs of, and the reasonable disbursements incidental to, the making and proof of the claim.

Interest
"122yc. (1) In addition to an amount that is payable to a person out of the Fund in respect of a claim, interest at the rate of 5% per annum or, if another rate is prescribed, at that other rate, is payable to the person out of the Fund, on so much of that amount as is not attributable to costs and disbursements, in respect of the period beginning on the day on which the person became entitled to make the claim and ending on:
     (a) unless paragraph (b) or (c) applies—the day on which that amount is paid to the person;
     (b) if the Board has made a determination under subsection 122zd (1) to pay that amount in instalments—the day on which that amount would, if no such determination had been made and the money in the Fund were unlimited, have been paid to the person; or
     (c) if, because of insufficiency of the Fund, no part of that amount is paid to the person on the day on which that amount would, if the money in the Fund were unlimited, have been so paid—the last-mentioned day.
"(2) Where:
     (a) under subsection (1), interest is payable to a person on an amount in respect of a period; and
     (b) that amount, or a part of that amount, remains unpaid throughout a period commencing immediately after the period referred to in paragraph (a);
then, in addition to that amount and that interest, interest at the prescribed rate is payable to the person out of the Fund on that amount, or on that part of that amount, as the case may be, in respect of the period first referred to in paragraph (b).

Application of Fund in respect of certain claims
"122yd. (1) The Corporation:
     (a) may purchase securities for the purpose of complying with subsection 122k (2), 122m (2) or 122r (3); and

     (b) may pay money out of the Fund for the purpose of so purchasing securities or for any other purpose connected with complying with that subsection.
"(2) Securities purchased by the Corporation as mentioned in subsection (1) form part of the Fund until they are supplied in accordance with this Part to