Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .

PART 7.10B - FINANCIAL SERVICES COMPENSATION SCHEME OF LAST RESORT  

Division 6 - Financial matters  

SECTION 1069S   RECOVERY OF OVERPAYMENTS  

1069S(1)    
If:

(a)    the CSLR operator pays an amount of compensation to a person under, or purportedly under, this Part; and

(b)    the amount paid exceeds the amount (if any) properly payable to the person under this Part;

the amount of the excess is recoverable by the CSLR operator as a debt due to the CSLR operator by action against the person in the Federal Court or the Federal Circuit and Family Court of Australia (Division 2).

1069S(2)    
An amount equal to the excess may alternatively be deducted from any other amount of compensation payable under this Part to, or for the benefit of, the person.