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 7A - Contraventions of SCH certificate cancellation provisions

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SECTION 961D CLAIM IN RESPECT OF CONTRAVENTION OF SCH CERTIFICATE CANCELLATION PROVISIONS

961D(1) [Who may claim]

Subject to this section, a person who suffers pecuniary loss in respect of a contravention, by a dealer, of the SCH certificate cancellation provisions may make a claim in respect of the loss.

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961D(2) [Unauthorised executions excepted]

The loss must not be a loss in respect of an unauthorised execution (within the meaning of section 956) in respect of which the person has made, or is entitled to make, a claim under Division 7.

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961D(3) [Claimant not involved in contravention]

The person must not have been involved in the contravention.

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961D(4) [Which dealers may be claimed against]

The following paragraphs must be satisfied in relation to the dealer:

(a) the dealer was a member of a participating exchange on the day of the contravention; and

(b) either:

(i) 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

(ii) 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 before that day was carried on in this jurisdiction.

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