CORPORATIONS ACT 2001 - SECT 1069Q Application of money by CSLR operator

CORPORATIONS ACT 2001 - SECT 1069Q

  (1)   The money of the CSLR operator is to be applied only:

  (a)   to pay compensation under section   1063; and

  (b)   to pay AFCA's unpaid fees under section   1069B; and

  (c)   to pay AFCA's accumulated unpaid fees under section   1069C; and

  (d)   to pay the CSLR operator's administrative costs; and

  (e)   to reimburse to ASIC the costs that ASIC has notified to the CSLR operator under subsection   9(4) of the Financial Services Compensation Scheme of Last Resort Levy (Collection) Act 2023 ; and

  (f)   to establish and restore the capital reserve (within the meaning of the Financial Services Compensation Scheme of Last Resort Levy (Collection) Act 2023 ).

  (2)   Subsection   (1) does not prevent investment of money.