Corporations Regulations 2001
CHAPTER 7
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FINANCIAL SERVICES AND MARKETS
PART 7.5
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COMPENSATION REGIMES FOR FINANCIAL MARKETS
Division 4
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NGF Compensation regime
Subdivision 4.9
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Claims in respect of insolvent participants
REGULATION 7.5.69
7.5.69
NO CLAIM IN CERTAIN OTHER CASES
This Subdivision does not, because of a dealer having become insolvent on a particular day, entitle a person to make a claim in respect of property if:
(a) before that day the property had, in due course of the administration of a trust, ceased to be under the sole control of the dealer; or
(b) the SEGC, or the Court, is satisfied that circumstances that materially contributed to the dealer becoming insolvent on that day were due to, or caused directly or indirectly by, an act or omission of the person.
View history note
Hide history note[ CCH Note: Pursuant to the Corporations Amendment Regulations 2001 (No 4) (SR 2001 No 319) effective 11 March 2002, Chapter 7 (Securities) comprising reg 7.1.01 - 7.15.01 and Chapter 8 (The futures industry) comprising reg 8.1.01 - 8.7.03 are replaced by a new Chapter 7 (Financial services and markets) comprising reg 7.1.01 - 7.12.01. As the subject matter of the new Chapter 7 relates to the new financial services reform regime, " inserted " has been used in the history notes for each provision, and all references to the former provisions have been removed.]
This Subdivision does not, because of a dealer having become insolvent on a particular day, entitle a person to make a claim in respect of property if:
(a) before that day the property had, in due course of the administration of a trust, ceased to be under the sole control of the dealer; or
(b) the SEGC, or the Court, is satisfied that circumstances that materially contributed to the dealer becoming insolvent on that day were due to, or caused directly or indirectly by, an act or omission of the person.
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