New South Wales Consolidated Acts

ASSOCIATED GENERAL CONTRACTORS INSURANCE COMPANY LIMITED ACT 1980 - SECT 16A

16A Application of money received after closure of fund

(1) Any money received, after the fund is closed, by the Government Insurance Office from the liquidator of the Company by way of dividend or otherwise pursuant to section 17 (1), or from the liquidator of Palmdale Insurance Limited as referred to in section 13A, is to be paid into an account in a bank in New South Wales.

(2) The money so paid is to be distributed to the contributors to the fund in the manner provided under section 16 for the distribution of the surplus remaining on the closure of the fund.