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CORPORATIONS ACT 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS    View history reference

PART 7.5 - COMPENSATION REGIMES FOR FINANCIAL MARKETS    View history reference

Division 4 - NGF Compensation regime    View history reference

Subdivision C - The NGF    View history reference

SECTION 889I  MINIMUM AMOUNT OF THE NGF  

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889I(1)  [``minimum amount'']  


The minimum amount in relation to the NGF is:


(a) unless paragraph (b) applies - $80,000,000; or


(b) if a determination is in force under subsection (2) - the amount specified in the determination.

889I(2)  [Alternative minimum amount]  


The SEGC may, in writing, determine an amount (whether greater than, or less than, $80,000,000) to be the minimum amount in relation to the NGF. The determination does not come into force until it has been approved by the Minister.

889I(3)  [Publication]  


The SEGC must publish in the Gazette notice of a determination that has come into force under subsection (2). The notice must specify the date when the determination came into force.

889I(4)  [Shortfall of NGF]  


If the amount in the NGF falls below the minimum amount, the SEGC must consider what action needs to be taken.


 



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