122GBPayments where Fund exceeds minimum amount

##### 122GB Payments where Fund exceeds minimum amount (1) Where the amount in the Fund exceeds the minimum amount, the Board may, in its discretion, determine in writing that a specified amount equal to the whole or a part of the excess be paid out of the Fund: (a) unless paragraph (b) applies—to the Exchange; or (b) if there are 2 or more participating exchanges: (i) to a specified participating exchange; or (ii) to 2 or more specified participating exchanges in specified proportions. (2) Where there are 2 or more participating exchanges, a determination under subsection (1) shall be just and equitable having regard, in relation to each participating exchange, to: (a) the amounts that have been paid into the Fund and that are attributable to, or to members or member organisations of, that participating exchange; and (b) the amounts that have been paid out of the Fund and that are so attributable. (3) Where a determination is made in accordance with this section, the amount specified in the determination shall be paid out of the Fund in accordance with the determination. (4) For the purposes of subsection (2), where: (a) money in the fidelity fund of a securities exchange or recognised securities exchange has been paid into the Fund under subsection 122ZF(1); or (b) property of the fidelity fund of a securities exchange or recognised securities exchange (other than money in that fidelity fund) has vested in the Corporation, and become part of the Fund, by virtue of subsection 122ZF(2); the amount of that money shall be taken, or an amount equal to the value of that property shall be deemed, as the case may be, to have been paid into the Fund and to be attributable to: (c) in the case of an Exchange subsidiary—the Exchange; or (d) in any other case—that securities exchange or recognised securities exchange. (5) For the purposes of subsection (2), where an amount is paid out of the Fund in connection with a claim that is, for the purposes of Division 9, a transferred claim in relation to a securities exchange or recognised securities exchange, the amount shall be taken to be attributable to: (a) in the case of an Exchange subsidiary—the Exchange; or (b) in any other case—that securities exchange or recognised securities exchange.