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 4 - NGF Compensation regime  

Subdivision B - Claims for and payment of compensation  

SECTION 888E   MAKING AND DETERMINATION OF CLAIMS  

888E(1)   [ Claims procedure]  

Claims are to be made and determined in accordance with:

(a) the regulations; and

(b) any relevant provisions of the SEGC's operating rules.

888E(2)   [ Specific rules for making and determining claims]  

Without limiting subsection (1), the regulations, or the SEGC's operating rules, may do all or any of the following:

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

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

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

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

888E(3)   [ Additional requirements]  

The regulations, or the SEGC's operating rules, may impose other requirements to be complied with by the SEGC in relation to claims (including, for example, requirements to notify claimants whether their claims have been allowed).

888E(4)   [ Inconsistency]  

If a provision of the SEGC's operating rules is wholly or partly inconsistent with regulations made for the purposes of this section, the provision of the SEGC's operating rules is, to the extent of the inconsistency, of no effect.