119Distribution of repayment fund among subscribers

#### 119 Distribution of repayment fund among subscribers 119 Distribution of repayment fund among subscribers > > (1) All money standing to the credit of a repayment fund established under section 117 (1) shall from time to time be distributed by the Secretary among the persons who paid money or gave any other valuable consideration under the cancelled contracts in respect of which that repayment fund was established in the same proportion as the amount of money paid by those persons or the value of the other valuable consideration given by those persons. > > > (2) If the Secretary cannot, after due inquiry, ascertain the whereabouts of a person who is entitled to a payment of money from the repayment fund under subsection (1), the Secretary— > > > > > (a) is not required to make that payment, and > > > > > (b) may— > > > > > > > (i) make any distribution under that subsection without regard to any claim by that person, > > > > > > > (ii) pay the money to the Treasurer for the use of the public revenue, or > > > > > > > (iii) distribute part of the money under subparagraph (i) and pay part of the money to the Treasurer under subparagraph (ii). > > > (3) The [Unclaimed Money Act 1995](/view/html/inforce/current/act-1995-075) applies to money paid to the Treasurer under subsection (2) in the same way as it applies to unclaimed money within the meaning of that Act. > > **s 119:** Am 1981 No 111, Sch 1 (5); 2014 No 88, Sch 2.25 \[3\].