New South Wales Consolidated Acts

BISHOPSGATE INSURANCE AUSTRALIA LIMITED ACT 1983 - SECT 11

11 Recovery of amounts under contracts or arrangements for reinsurance

To the extent that any amounts are paid out of the fund in respect of a claim, judgment or award pursuant to section 10 (including the costs of the Government Insurance Office), the Government Insurance Office shall, where the Company (if it had provided indemnity to that extent under a policy of insurance) would have been entitled to recover any sum under a contract or arrangement for reinsurance, be entitled to the benefit of and may exercise the rights and powers of the Company under that contract or arrangement so as to enable the Government Insurance Office to recover from the reinsurer and pay into the fund the amount due under that contract or arrangement.