s 34
In forceAssets and liabilities of MACC banking business
Part 6Transitional matters for Motor Accidents (Compensation) Commission Act 2014
Division 2Winding up of banking business
34 Assets and liabilities of MACC banking business
(1)
The moneys of, and all debts and other moneys owing to, the
Commission in relation to the MACC banking business:
(a)
are the property of the Territory; and
(b)
are held, and may be recovered, by the Commission on behalf of the Territory.
(2)
The Commission must not use those moneys for any purpose other than the carrying on of the MACC banking business.
(3)
Within 3 months after the last residual deposit is repaid to the depositor the Commission must pay the moneys standing to the credit of the account to the Central Holding Authority.
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