OpenLegislation

Paragraph 4 NOW THIS DEED WITNESSETH AND IT IS HEREBY DECLARED as follows:

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

The Fund shall consist of:

(a)

joining and supplementary contributions as hereafter mentioned;

(b)

monies borrowed for the purposes of the Fund;

(c)

interest and dividends from investments;

(d)

dividends recovered in any liquidation;

(e)

the investments, property and other assets representing from time to time the above or any of them.

(2)

There shall be chargeable to the Fund:

(a)

payments to meet the banking administrative and management expenses of the Union and/or the Bank in accordance with sub clause 3(6) above and clause 14 hereof;

(b)

refunds to Participating Societies as hereinafter provided;

(c)

moneys required for the repayment of borrowings and any interest thereon;

(d)

payments to depositors in respect of protected deposits as hereinafter provided.