Corporations Act 2001
(a) the compensation rules provide adequate coverage for Division 3 losses (see sections 885C and 885D ); and
(b) the compensation rules provide for adequate compensation to be paid in respect of Division 3 losses (see section 885E ); and
(c) the compensation rules deal adequately with how compensation in respect of Division 3 losses is to be paid (see section 885F ); and
(d) the compensation rules deal adequately with the making and determination of claims in respect of Division 3 losses, and with the notification of the outcome of such claims (see section 885G ); and
(e) the arrangements provide for an adequate source of funds for paying compensation in respect of Division 3 losses and in respect of any other losses covered by the arrangements (see section 885H ); and
(f) the arrangements include adequate arrangements for administration and monitoring (see section 885I ); and
(g) under the arrangements, potential claimants have reasonable and timely access to the compensation regime; and
(h) if the licensee ceases (for whatever reason) to be required to have Division 3 arrangements, the rights of people to seek compensation under the arrangements, being rights that accrued while the licensee was required to have such arrangements, will be adequately protected. 885B(2) [ Relevant matters]
In considering the matters mentioned in subsection (1), the Minister must also have regard to the matters mentioned in section 885J .885B(3) [ Limitation]
The matters that may be dealt with in compensation rules are not limited to matters mentioned in this section.
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