Land Titles Act 1980
150The assurance fund
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150 The assurance fund
(1) The assurance fund created for the purposes of the repealed Act is continued for the purposes of this Act.
(2) [Section 150 Subsection (2) amended by No. 23 of 2021, s. 126, Applied:01 Jan 2022] All sums of money received by the Recorder under this Act as contributions to the assurance fund shall be paid by the Recorder to the Treasurer who shall invest those sums together with all interest accruing on those sums to augment the fund continued by subsection (1) .
(3) [Section 150 Subsection (3) amended by No. 36 of 2012, s. 49, Applied:13 Nov 2012] [Section 150 Subsection (3) amended by No. 36 of 2012, s. 49, Applied:13 Nov 2012] If the assurance fund is at any time reduced by claims on the fund to an amount less than $2 000 000, the Governor may make regulations providing that any of the fees prescribed in Schedule 3 be increased as prescribed, the increase to be a contribution to the assurance fund, until such time as that fund is increased to such sum as may be prescribed.