122CDPayments out of Fund

##### 122CD Payments out of Fund (1) Subject to this Part, there shall be paid out of the Fund, in such order as the Board deems proper: (a) amounts, including costs, disbursements and interest, that the Fund provisions require to be paid in connection with claims; (b) all legal and other expenses incurred in investigating or defending claims or incurred in relation to the Fund or in the exercise by the Corporation or the Board of the rights, powers and authorities vested in it by the Fund provisions in relation to the Fund; (c) money payable to a participating exchange under section 122GB; (d) to the extent that the money referred to in section 122DC is insufficient for the purpose, premiums payable in respect of contracts of insurance or indemnity entered into by the Corporation under section 122ZC; (e) to the extent that the money referred to in section 122DC is insufficient for the purpose, the expenses incurred in the administration of the Fund, including the salaries and wages of persons employed by the Corporation or the Board in relation to the Fund; and (f) all other money payable out of the Fund in accordance with this Act or a corresponding law of a participating State or participating Territory. (2) In paragraphs (1)(a) and (b), claim means a claim under Division 6, 6A or 7 or a claim that, for the purposes of Division 9, is a transferred claim in relation to a transferring exchange. (3) Where: (a) an amount is payable out of the Fund in connection with a claim by a person against the Corporation under Division 6 or 6A that has been allowed; and (b) an amount is payable out of the Fund in connection with a claim by a person against the Corporation under Division 7 that has been allowed; then, regardless of the order in which those persons became respectively entitled to make those claims, the amount referred to in paragraph (a) shall be paid out of the Fund in priority to the amount referred to in paragraph (b).