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 7.5 - COMPENSATION REGIMES FOR FINANCIAL MARKETS  

Division 3 - Approved compensation arrangements  

Subdivision D - Are compensation arrangements adequate?  

SECTION 885G   MAKING AND DETERMINATION OF CLAIMS  

885G(1)   [ Claims procedure]  

The compensation rules must provide for how claims in respect of Division 3 losses are to be made and determined, and for how claimants are notified of the outcome of their claims.

885G(2)   [ Specific rules for making and determining claims]  

Without limiting subsection (1), the compensation rules may:

(a) require a person making a claim to pay money, or transfer other property, in support of a claim; and

(b) provide for claims to be disallowed unless persons exercise rights of set-off; and

(c) set time limits for the making of claims; and

(d) provide for claims to be partially allowed (including, for example, in a case where the operator considers that the claimant's conduct contributed to the loss).