102Payment of compensation

102 Payment of compensation (1) Subject to this section, where an amount has been determined under this Part as the amount of pecuniary loss in respect of which compensation may be paid to an applicant under this Part, the Registrar shall pay to the applicant an amount equal to the amount so determined. (2) The amounts paid under subsection (1) to applicants for compensation in respect of defalcations or misappropriations by the same person shall not exceed, in the aggregate, 300 000 monetary units or, if another amount is determined by the Administrator by notice in the Gazette, that other amount. (3) Where the aggregate of the amounts that the Registrar would, but for this subsection, be required by subsection (1) to pay to applicants for compensation in respect of defalcations or misappropriations by the same person, exceeds the amount available under subsection (2), the Registrar shall divide the amount available under that subsection among those applicants in proportion to the amounts payable to them. (4) Where, at any time, the amount of the moneys of the Fund is insufficient for the payment of all amounts that the Registrar would, but for this subsection, be required by this section to pay, the

Agents Licensing Act 1979 72 Registrar shall divide the amount of the moneys of the Fund among the persons to whom it would be required to pay those amounts in proportion to those amounts.