Establishment of the Corporation

(1) The Deposit Insurance Corporation is established as a body corporate for the administration of this Act and the management of the Fund. (2) The Corporation is authorised to do anything that is necessary for, incidental to or conducive to the management of the Fund or the discharge of its functions under this Act. (3) Without limiting the authority of the Corporation under sub-section (2), the Corporation, in accordance with this Act, is authorised to– (a) manage the assets of the Fund; (b) collect contributions, premiums, charges and fees levied on Fund members; (c) determine the eligibility and entitlement of an insured depositor to compensation; (d) make payments of compensation to insured depositors out of the Fund; (e) claim from a Fund member or liquidator of a Fund member, reimbursement of the amount of deposit insurance paid to the insured depositors of that Fund member, together with any interest accrued; and 9 (f) educate the public about deposit insurance and