Queensland Consolidated Acts Queensland Consolidated Acts(1) A fund called the Insurance Fund is established.
(2) The fund consists of--
(a) the balance of the Builders' Registration Board Insurance Fund as at the commencement of this section; and
(b) all money received or recovered by the authority in connection with the statutory insurance scheme; and
(c) all amounts transferred from the General Statutory Fund under section 25.
(3) The following amounts are to be paid from the fund--
(a) the costs of administering the statutory insurance scheme;
(b) the costs of paying out claims under the statutory insurance scheme.
(4) A regulation may require the fund to be managed--
(a) in the way prescribed under a regulation; or
(b) in accordance with an external standard of fund administration prescribed under a regulation.