THE CORPORATIONS LAW

CHAPTER 7 - SECURITIES

PART 7.10 - THE NATIONAL GUARANTEE FUND

Division 8 - Claims in respect of insolvent members

SECTION 966A   NO CLAIM UNLESS NEXUS BETWEEN DEALER AND THIS JURISDICTION  

966A    This Division does not, because of a person (in this section called the ``dealer'' ) having become insolvent on a particular day, entitle a person to make a claim in respect of property unless the dealer was on that day a member of a participating exchange and:

(a)  the dealer was carrying on a securities business in this jurisdiction on that day (whether on his, her or its own account or in partnership); or

(b)  if the dealer was not so carrying on such a business and was not carrying on a securities business in any other jurisdiction on that day - the last securities business that the dealer carried on in a jurisdiction (whether on his, her or its own account or in partnership) before that day was carried on in this jurisdiction.

 View history note

 Hide history note