New South Wales Consolidated Acts

INSURANCE PROTECTION TAX ACT 2001 - SECT 16D

16D Application of Policyholders Protection Fund-claims under home building insurance contracts of insolvent insurers

(1) The Policyholders Protection Fund must be applied to meet expenditure from the Building Insurers’ Guarantee Fund in connection with contracts of insurance entered into by declared insolvent insurers.

(2) All payments made from the Policyholders Protection Fund under this section are to be made in the amounts, on the conditions and at the times determined by the Treasurer.