Securities Industry Act 1980
122ZDInstalment payments
Start here
Get a plain-English read of 122ZD
Turn the raw legal text into a practical explanation grounded in Securities Industry Act 1980.
122ZD Instalment payments
(1) Where, at a particular time, the Board is of the opinion that if all the amounts that, as at that time, are payable out of the Fund in connection with claims were so paid, the Fund would be exhausted or substantially depleted, the Board may determine in writing that amounts so payable as at that time shall be so paid in instalments of specified amounts payable on specified days. (2) In subsection (1), 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) A determination under subsection (1) has effect subject to subsection 122CD(3).