On 19/06/2013,
you requested for the version in force on 19/06/2013
incorporating all amendments published on or before 19/06/2013.
The closest version currently available is that of 20/12/2012.
35.
—(1) In carrying out the objects and purposes of the PPF Scheme, the moneys in the PPF Life Fund and the PPF General Fund may be withdrawn and applied as the Agency considers proper for all or any of the following purposes only:
(a)
all expenses incurred in or incidental to —
(i)
the establishment and maintenance of the PPF Scheme;
(ii)
the administration and management of the PPF Life Fund and the PPF General Fund;
(iii)
the administration and management of the Agency and the performance of the duties and functions of the Agency in respect of the PPF Scheme under this Act;
(iv)
the conduct of any investigation by the Agency for the purpose of determining the entitlement of insured policy owners or beneficiaries to any compensation;
(v)
the transfer of the whole or part of the insurance business of a failed PPF Scheme member to another insurer; and
(vi)
the run-off of the insurance business of a failed PPF Scheme member;
(b)
the payment of any fees to agents appointed by the Agency for the purposes of carrying out any services in respect of the PPF Scheme under this Act;
(c)
the withdrawal of all other moneys authorised or determined to be paid out of the PPF Life Fund and the PPF General Fund in accordance with this Act.
(2) Notwithstanding subsection (1), the Authority may recover from the Agency out of the PPF Life Fund and the PPF General Fund, all expenses incurred by the Authority in the establishment of the Agency and in connection with the discharge of the functions and responsibilities of the Authority under sections 38, 39 and 40.