Document ID: chunk:federal_register_of_legislation:C2021A00015:clause:1_18
Version: federal_register_of_legislation:C2021A00015
Segment Type: clause
Provision Reference: sch 1 cl 18
Character Range: 7143–8031

18  Section 148
Omit:
      A participating government institution may be the funder of last resort for a defunct institution. In that case, the government institution will be liable to pay the defunct institution's (hypothetical) share of the costs of providing redress to the person, which will increase the amount of funding contribution the government institution will be liable to pay. (For funders of last resort, see Part 6‑2.)
substitute:
      One or more participating government institutions may be a funder of last resort for a defunct institution. In that case, those government institutions will be liable to pay the defunct institution's (hypothetical) share of the costs of providing redress to the person, which will increase the amount of funding contribution the government institutions will be liable to pay. (For the funder of last resort provisions, see Part 6‑2.)