118AWPayments where mandatory operation direction not made

118AW Payments where mandatory operation direction not made

118AW Payments where mandatory operation direction not made

(1) This section applies if the Minister is satisfied there is a reasonably practicable alternative to issuing a mandatory operation direction.

(2) The Minister may direct the financial vehicle to make payments from the orderly exit management fund to meet reasonable costs associated with the reasonably practicable alternative.

(3) The Rules may make provision for payments under this section.

(4) In this section—

reasonably practicable alternative means the reasonably practicable alternative on which the Minister bases a decision to not issue a mandatory operation direction to a Registered participant.

s 118AW: Ins 2024 No 62, sec 6.