Assignment of rights
103M Assignment of rights
Where the Authority pays an amount to a beneficiary (or a person nominated by a beneficiary) under the indemnity provided by this Division, the beneficiary is taken to have assigned the beneficiary’s rights in respect of the matter covered by the indemnity to the Authority.
The Authority may enforce the rights assigned to it under this section as if those rights had been personally assigned by the beneficiary.
The regulations may make provision for or with respect to assignments of beneficiaries’ rights under this section, including, but not limited to, provisions relating to—
the nature and extent of the assignment, and
the enforcement of the assignment by the Authority.
A reference in this section to the assignment of a beneficiary’s rights includes a reference to the assignment of any rights that the beneficiary may have, in respect of the matter covered by the indemnity, against a developer or any other person.
This provision refers to the regulations (The regulations may make
). Made under this Act:
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