Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.5 - COMPENSATION REGIMES FOR FINANCIAL MARKETS  

Division 4 - NGF Compensation regime  

Subdivision C - 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.