692Amounts payable to other entities

692 Amounts payable to other entities

692 Amounts payable to other entities

(1) The Regulator may establish accounts with any financial institution for money referred to in section 688(2), pending payment of the money to States, Territories or other entities entitled to receive it under—

(a) applicable agreements mentioned in section 658(2)(b); or

(b) arrangements approved by the responsible Ministers, to the extent applicable agreements do not make provision for payment.

(2) Money in an account established under this section does not form part of the consolidated fund or consolidated account (however described) of a participating jurisdiction or the Commonwealth.