7Payments out of the Fund

7 Payments out of the Fund

(1)  *[Section 7 Subsection (1) amended by No. 92 of 1974, s. 6 and Sched. 1 ]*No moneys shall be paid out of the Fund otherwise than on and in accordance with a certificate of the Registrar.

(2)  *[Section 7 Subsection (2) amended by No. 92 of 1974, s. 6 and Sched. 1 ]*The Registrar shall not issue a certificate for the payment of moneys out of the Fund unless he is satisfied that the payment is authorized by this Act to be made from the Fund and that the provisions of this Act in relation to a claim for the payment have been complied with.

(3)  *[Section 7 Subsection (3) substituted by No. 45 of 1978, s. 2 ]**[Section 7 Subsection (3) amended by No. 89 of 1986, s. 5 ]*Payments out of the Fund shall be made during the months of January, April, July, and October in each financial year.

(4)  *[Section 7 Subsection (4) substituted by No. 45 of 1978, s. 2 ]**[Section 7 Subsection (4) amended by No. 89 of 1986, s. 5 ]*If when payments are due to be made out of the Fund the total amount of the claims for the preceding 3 months exceeds the amount in the Fund, the claims shall be paid rateably to the full extent of the Fund.

(5)  *[Section 7 Subsection (5) substituted by No. 45 of 1978, s. 2 ]**[Section 7 Subsection (5) amended by No. 89 of 1986, s. 5 ]*If on the last day of January, April, July, or October in any financial year after the payment of all claims payable out of the Fund for the preceding 3 months there is a credit balance in the Fund, the same shall be used to pay rateably all unsatisfied claims, if any, payable in the last preceding 5 financial years.