15. — F18[(1) The Minister shall establish a fund to be known as the Travellers’ Protection Fund (in this Act referred to as "the Fund") from which payments may be made in accordance with section 18 —

(a) in respect of losses or liabilities incurred by customers of tour operators or travel agents who held a licence under this Act or whose licence has been revoked and the revocation is the subject of an appeal to the court, in consequence of the inability or failure of the tour operators or travel agents to meet their financial or contractual obligations in respect of overseas travel contracts, and

(b) to provide for:

(i) the refund of all payments made by or on behalf of a traveller in respect of a package travel contract insofar as travel services under the package travel contract cannot be performed as a consequence of the insolvency of the organiser of the package travel contract concerned;

(ii) the reimbursement of a traveller for any reasonable expenses necessarily incurred by the traveller in respect of a package travel contract as a consequence of the insolvency of the organiser of the package travel contract concerned;

(iii) where a package travel contract includes carriage of a traveller, the repatriation, and, if necessary, the financing of accommodation prior to the repatriation, of that traveller as a consequence of the insolvency of the organiser.]

(2) The collection, retention and disbursement of the resources of the Fund shall be a function of the Minister.

(3) The Minister may by regulations made under this section nominate any person specified in the regulations to carry out any or all of the functions conferred on the Minister by this section.