New South Wales Consolidated Acts

BISHOPSGATE INSURANCE AUSTRALIA LIMITED ACT 1983 - SECT 17

17 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 under any scheme of arrangement in relation to the Company) as agent and attorney of an employer 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.