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Agents Act 2003
157Insufficiency of compensation fund
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157 Insufficiency of compensation fund
(1) If the amount in the compensation fund (the available amount) is
insufficient for the payment of all amounts that would, apart from this
subsection, be payable to claimants under section 155 (1) (Payment
of compensation)—
(a) the director-general must divide the available amount among the
claimants in proportion to the amounts otherwise payable; and
(b) pay each claimant the proportionate amount.
(2) The balance of the amount payable to claimants must be paid out of
future accumulations of the compensation fund.
(3) On making a payment under subsection (1) (b), the director-general
must tell each claimant in writing the balance payable out of future
accumulations of the fund.