Agents Act 2003
156Interim payment of compensation
Start here
Get a plain-English read of 156
Turn the raw legal text into a practical explanation grounded in Agents Act 2003.
156 Interim payment of compensation (1) This section applies if the commissioner for fair trading has decided that there is a financial loss for which an amount may be payable to a claimant under this division but payment of the amount cannot be made because of section 155 (3). (2) The director-general may make an interim payment of compensation out of the compensation fund of the amount the director-general considers reasonable, if satisfied that— (a) the claimant is suffering hardship as a direct consequence of the financial loss; or (b) circumstances prescribed by regulation exist. (3) An amount paid to the claimant under subsection (2) must be set off against the amount of compensation payable to the claimant under this division.