Land Agents Act 1994

Where the indemnity fund is insufficient to pay all outstanding amounts to which claimants are entitled, the Commissioner must make proportionate reductions in the amounts paid out in respect of those entitlements.

Where, at the time at which a claimant's entitlement to compensation is determined, other persons have made claims that have not yet been determined, the Commissioner may defer payment of the claimant's entitlement for any period (not exceeding 12 months) in order to allow time for the entitlements of those other claimants to be determined.

The Commissioner may set aside a part of the indemnity fund as the

have made claims against the fund that have not been determined;

are likely to make claims against the fund in the future, and, when determining whether payments to claimants should be reduced, the

If, after a claimant's entitlement to compensation has been determined, the claimant recovers an amount (that was not allowed for in that determination) in respect of the pecuniary loss suffered by the claimant, the claimant's entitlement to compensation is reduced by the amount recovered.

Entitlements in respect of which payments are made under this section are discharged despite the fact that they may not have been satisfied in full.

The Commissioner may, with the approval of the Minister, make payments to a person—

whose entitlement to compensation has been discharged;

whose entitlement to compensation is insufficient because an amount that the person was expected to recover in respect of the pecuniary loss has not been recovered; or

whose claim is barred, but a payment so made does not revive or reinstate an entitlement or claim.