sec.76CDecision of scheme manager

sec.76C Decision of scheme manager

The scheme manager must decide to authorise or not to authorise payment of the costs and expenses from the residual risks fund. The scheme manager must decide to authorise payment of an amount for the costs and expenses unless the payment would adversely affect the financial viability of the residual risks fund. To ensure the authorisation of a payment does not adversely affect the financial viability of the residual risks fund, the scheme manager may decide to— authorise payment of an amount for only a part of the costs and expense; or authorise payment of an amount for all or a part of the costs and expenses in instalments. If the scheme manager decides to authorise payment of an amount for all or part of the costs and expenses, the scheme manager must give the amount decided to the requesting entity. In making a decision under this section, the scheme manager must have regard to any guidelines made under section 76D . s 76C ins 2020 No. 26 s 114 (sec.76C-ssec.1) The scheme manager must decide to authorise or not to authorise payment of the costs and expenses from the residual risks fund. (sec.76C-ssec.2) The scheme manager must decide to authorise payment of an amount for the costs and expenses unless the payment would adversely affect the financial viability of the residual risks fund. (sec.76C-ssec.3) To ensure the authorisation of a payment does not adversely affect the financial viability of the residual risks fund, the scheme manager may decide to— authorise payment of an amount for only a part of the costs and expense; or authorise payment of an amount for all or a part of the costs and expenses in instalments. (sec.76C-ssec.4) If the scheme manager decides to authorise payment of an amount for all or part of the costs and expenses, the scheme manager must give the amount decided to the requesting entity. (sec.76C-ssec.5) In making a decision under this section, the scheme manager must have regard to any guidelines made under section 76D .

• (a) authorise payment of an amount for only a part of the costs and expense; or
• (b) authorise payment of an amount for all or a part of the costs and expenses in instalments.