SAT’s additional powers as to s. 92, 93 and 97 orders; schemes for distributing funds
98 SAT’s additional powers as to s. 92, 93 and 97 orders; schemes for distributing funds
The State Administrative Tribunal may, on the application of the Commissioner, the Treasurer, or the agent, or the personal representative of a deceased agent, referred to in an order made under the provisions of section 92, 93, or 97 make further orders —
discharging or varying any order so made; and
directing that any moneys in any account affected by an order so made shall be paid to the Treasurer by the bank or other body on such terms and conditions as the State Administrative Tribunal thinks fit.
The Treasurer, on receiving moneys paid pursuant to an order made under subsection (1)(b) —
shall cause the moneys to be credited to a separate Treasurer’s special purpose account established under section 10 of the Financial Management Act 2006; and
may prepare a scheme for distributing the moneys as compensation to each person who claims compensation at any time within 6 months after the Treasurer receives the money, and proves to the satisfaction of the Treasurer that the person has, in respect of any transaction or prospective transaction, sustained loss through any act or omission of the agent, or deceased agent or his personal representative, in respect of whose accounts the order was made; and
may, if the moneys are not sufficient to pay all proved claims, apportion the moneys among claimants in proportion to their proved claims and show in the scheme for distribution how the moneys are so apportioned.
Where the Treasurer prepares a scheme for distribution he shall apply to the State Administrative Tribunal for approval of the scheme and for directions in respect thereof.
The State Administrative Tribunal may give such directions in respect of the separate Treasurer’s special purpose account, the moneys standing to the credit of the account, the persons to whom and in what amounts the whole or any portion of the moneys standing to the credit of the account shall be paid by the Treasurer, and as to the payment of the balance of the moneys then standing to the credit of the account, if any, as it thinks fit.
[Section 98 amended: No. 59 of 1995 s. 40(1) and 42; No. 26 of 1999 s. 99(5); No. 55 of 2004 s. 1021; No. 77 of 2006 Sch. 1 cl. 147(6) and (7); No. 58 of 2010 s. 134.]
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