Section 1069Q — Corporations Act 2001 (Cth)

(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.

Related sections

• s 1069M — Costs for first levy period
• s 1069N — Payment to the CSLR operator of amount for the first levy period for the scheme
• s 1069P — Payment to the CSLR operator of amounts equal to levy
• s 1069R — Investment by CSLR operator
• s 1069S — Recovery of overpayments
• s 1070A — Nature of shares and certain other interests in a company or registered scheme

Research how courts apply s 1069Q

BriefBridge searches Australian caselaw by meaning — every answer cited to the paragraph.