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 2 - Compensation payments under the scheme  

SECTION 1066   APPLICATIONS FOR COMPENSATION PAYMENTS  

1066(1)    
A person may apply, in the approved form, to the CSLR operator for compensation for a relevant AFCA determination made in respect of the person.

1066(2)    
An application is in the approved form if and only if:

(a)    it is in the form approved by the CSLR operator; and

(b)    it includes any information (including any declarations) required by the form; and

(c)    it is given in the manner required by the CSLR operator.

1066(3)    
The CSLR operator may approve a form for the purposes of paragraph (2)(a) .

1066(4)    
If a person makes an application for compensation for a relevant AFCA determination made in respect of the person, the person may:

(a)    amend the application at any time before the CSLR operator offers under section 1068 to the person an amount of compensation for the determination; or

(b)    withdraw the application any time before the person accepts under 1069 such an offer.