HOME BUILDING ACT 1989 - SECT 103S Functions of claims administrators

HOME BUILDING ACT 1989 - SECT 103S

103S Functions of claims administrators

(1) The Guarantee Corporation has the following functions--

(a) to deal with and finalise claims under this Part on behalf of the State,

(b) to hold and manage, on behalf of the State, the Building Insurers' Guarantee Fund in accordance with this Act,

(c) any other function conferred or imposed on it by or under this or any other Act or law.

(1AA) The Authority has the following functions--

(a) to deal with and finalise claims under this Part (other than claims relating to insolvent former approved insurers),

(b) to hold and manage the Home Building Insurers Guarantee Fund in accordance with this Act.

(1A) Without limiting subsection (1)(c), the regulations may make provision for or with respect to the functions of a claims administrator in relation to any home building insurance or reinsurance arrangements that are entered into by the State.

(2) A claims administrator may do all such things as are supplemental or incidental to the exercise of its functions.

(3) A claims administrator may appoint an insurer or other person as its agent or contractor for the purpose of exercising any or all of its functions under this Part.