Corporations Act 2001
CHAPTER 7
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FINANCIAL SERVICES AND MARKETS
PART 7.5
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COMPENSATION REGIMES FOR FINANCIAL MARKETS
Division 4
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NGF Compensation regime
Subdivision C
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The NGF
SECTION 889G
MONEY BORROWED AND NOT PAID TO THE SEGC
889G(1)
[
Application]
This section applies if money borrowed by the SEGC under subsection 889E(1) is not paid to the SEGC but is payable to other persons at the direction of the SEGC.
889G(2) [ Prohibition on unauthorised payments]The SEGC must not direct that any of the money be paid to a person unless the payment is of a kind that can, under section 889H , be made out of the NGF.
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