Financial Sector Reform (Northern Territory) Act 1999

Despite the repeal of the Financial Institutions (NT) Act

1992, the Supervision fund continues in existence until TSA fulfils its obligations under this section.

TSA must pay out of the Supervision Fund at such time or times as TSA determines:

to APRA – such amount in respect of any other liabilities of

TSA that, by reason of this Act, become liabilities of APRA, as is determined by TSA;

to ASIC – such amount in respect of any other liabilities of

TSA that, by reason of this Act, become liabilities of ASIC, as is determined by TSA; and

to each building society, credit union and friendly society –

an amount determined by TSA as representing the amount of supervision levy paid by the building society, credit union or friendly society into the supervision fund and unexpended.