142Functions of Trust

142 Functions of Trust

The functions of the Trust are –

(a) to establish and maintain, from money it receives under schemes of arrangement, a fund to meet claims for loss suffered by people as a result of certain acts and omissions of real estate agents named in Part 1(1) of the Register, property managers named in Part 2(1) of the Register or general auctioneers named in Part 3(1) of the Register, their directors and people employed by them, or acting on their behalf; and

(b) to administer the fund so established; and

(c) to pay any compensation determined in accordance with Division 4 of this Part to be payable from the fund.