1.1.F.20 Funder of last resort
Definition
For the purposes of the National Redress Scheme, 'funder of last resort' is an arrangement to provide redress to a person for a 'listed' institution in limited circumstances.
The funder of last resort arrangements can apply when an Independent Decision Maker finds a listed non government institution responsible for the child sexual abuse of a person. A listed non-government institution can be defunct or unable to join the Scheme.
The Minister must declare by notifiable instrument in Parliament, that the non government institution is listed for a relevant government under funder of last resort arrangements. A non-government institution can be listed for one or more governments.
When the non-government institution is declared under funder of last resort arrangements, the relevant Commonwealth, state or territory government has agreed to pay that institution's share of redress. If it is partly-participating in the Scheme under the arrangements, the institution has also agreed to provide the direct personal response component of redress to eligible applicants.
Act reference: NRSAct section 29 The Operator must make a determination on the application, section 163 Meaning of funder of last resort
NRS (Funders of Last Resort) Declaration 2019
Policy reference: Redress Guide 8.2 Funders of last resort, 1.1.D.20 Defunct institution, 1.1.L.10 Listed institution, 1.1.P.35 Partly-participating institution