THE CORPORATIONS LAW

CCH Note: Part 13 of the Corporations Act 1989, inserted by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as follows:

PART 13 - THE CORPORATIONS LAW

THE CORPORATIONS LAW   82 

The Corporations Law is as follows:...

CHAPTER 7 - SECURITIES

PART 7.10 - THE NATIONAL GUARANTEE FUND

Division 6B - Claims in respect of net obligations

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History

Pt 7.10 Div 6B inserted by No 201 of 1991, Sch 1 (effective 18 December 1991).

SECTION 954U   NEXUS WITH THIS JURISDICTION  

954U    A person or partnership may not make a claim in respect of a failure by a person or partnership (in this section called the ``defaulter'' ) to discharge an obligation to pay an amount or transfer securities unless:

(a)  the defaulter was carrying on a securities business in this jurisdiction on the day on which the obligation arose; or

(b)  if the defaulter 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 defaulter carried on in a jurisdiction before that day was carried on in this jurisdiction.

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History

S 954U inserted by No 201 of 1991, Sch 1 (effective 18 December 1991).

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