New South Wales Consolidated Acts

HOME BUILDING ACT 1989 - SECT 103ZB

103ZB Recovery of amounts under guarantees or indemnities

To the extent that any amounts are paid out of the Building Insurers’ Guarantee Fund in respect of an indemnity under Division 2, the Guarantee Corporation is, where an insolvent insurer (if it had provided indemnity to that extent under an insolvent insurer’s policy) would have been entitled to recover any sum under a guarantee or indemnity given by a builder or any other person, entitled to the benefit of and may exercise the rights and powers of the insolvent insurer under that guarantee or indemnity so as to enable the Guarantee Corporation to recover from the builder or other person and pay into the Building Insurers’ Guarantee Fund the amount due under that guarantee or indemnity.