Administered the National Guarantee Fund in accordance with Part 7.5 of the Corporations Act 2001 and the Corporations Regulations 2001. Securities Exchanges Guarantee Corporation Ltd (SEGC) is entitled to have its expenses incurred in the administration of the National Guarantee Fund paid out of the National Guarantee Fund under section 889H of the Corporations Act 2001 (Cth) which is why the balance in the financial statements of SEGC are zero balances. These expenses are recorded in the financial statements of the National Guarantee Fund.