THE CORPORATIONS LAW

CHAPTER 7 - SECURITIES

PART 7.10 - THE NATIONAL GUARANTEE FUND

Division 6A - Securities loans guarantees

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SECTION 954H   HOW CLAIM IN RESPECT OF AN AMOUNT OF MONEY IS TO BE SATISFIED  

954H(1)  [Claim in respect of guaranteed securities loan]  

Subject to section 954K, SEGC must allow a claim in respect of an obligation under a guaranteed securities loan to pay a security benefit that is an amount of money, or to pay some other amount, if the Board is satisfied that:

(a)  the claimant is entitled to make the claim; and

(b)  the obligation is still undischarged to the extent of a particular amount (in this section called the ``outstanding amount'' ).

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954H(2)  [How claim to be satisfied]  

If SEGC allows the claim, it must pay to, or as directed by, the claimant an amount equal to the outstanding amount.

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