122YDApplication of Fund in respect of certain claims

##### 122YD Application of Fund in respect of certain claims (1) The Corporation: (a) may buy securities in order to comply with subsection 122K(2) or 122M(2), paragraph 122PG(2)(a) or subsection 122R(3); and (b) may pay money out of the Fund for the purpose of so buying securities or for any other purpose connected with complying with that subsection or paragraph. (2) Securities bought by the Corporation as mentioned in subsection (1) form part of the Fund until they are supplied in accordance with this Part to a claimant or are sold in accordance with subsection (3). (3) Where: (a) the Board: (i) makes in relation to a claim in respect of a purchase of securities a determination under section 122N; (ii) decides that it is not practicable for the Corporation to obtain, or to obtain within a reasonable time, securities in order to comply with paragraph 122PG(2)(a) in relation to a claim; or (iii) makes in relation to a claim a determination under subsection 122S(1); and (b) the Corporation has, before the making of the determination or decision, bought securities in order to: (i) supply to the claimant settlement documents in relation to the purchase; (ii) comply with paragraph 122PG(2)(a) in relation to the claim; or (iii) supply under subsection 122R(3), in respect of the claim, securities or documents of title to securities; as the case may be; the Corporation shall, as soon as practicable after the making of the determination or decision, sell the securities so bought and pay the proceeds of sale into the Fund. (4) In this section: > claim means a claim under Division 6, 6A or 7.