16
CurrentMotor Accidents (Compensation) Fund
Part 3Motor Accidents (Compensation) Fund
16 Motor Accidents (Compensation) Fund
(1) The Motor Accidents (Compensation) Fund (established by section 22B of the Territory Insurance Office Act 1979) is continued.
(2)
The assets of the Fund:
(a)
are the property of the Territory; and
(b)
are held by the Commission on behalf of the Territory.
(3)
To avoid doubt:
(a)
a trust is not created in relation to the Fund; and
(b)
the Commission is not a trustee in relation to the Fund.
This Act’s bill:Explanatory statementSecond reading speech
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