Amounts paid into and out of the Fund
17 Amounts paid into and out of the Fund
The Commission must pay into the Fund:
amounts paid to the Commission under section 46 of the Motor
Vehicles Act 1949; and
earnings from the investment of the Fund; and
other amounts received by the Commission for the MAC scheme.
The Commission may pay amounts out of the Fund only for the following purposes:
payment of benefits under the Motor Accident (Compensation)
Act 1979;
administration of the MAC Scheme;
management of the Fund;
payment of amounts payable by the Commission under a MAC management agreement;
discharge of any other liabilities in relation to the MAC business;
payment of amounts required to be paid out of the Fund under section 14(3), 18, 19 or 20;
promotion of road safety.
In this section:
MAC management agreement means a contract as mentioned in section 9(2) under which the Commission has delegated powers and functions in relation to the MAC business.
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