Corporations Regulations 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.5 - COMPENSATION REGIMES FOR FINANCIAL MARKETS  

Division 4 - NGF Compensation regime  

Subdivision 4.10 - General  

REGULATION 7.5.81   ARBITRATION OF AMOUNT OF CASH SETTLEMENT OF CERTAIN CLAIMS  

7.5.81(1)    
If:

(a) a cash settlement provision requires the SEGC to pay an amount in respect of a claim; and

(b) the amount cannot be determined by agreement between the SEGC and the claimant;

the amount must be determined by arbitration in accordance with this regulation.

7.5.81(2)    
If:

(a) in relation to a claim, paragraph 7.5.77(3) (c), (5) (c) or (6) (c) requires the SEGC to work out the value of securities, or the number of securities that are equal in value to another value or amount; and

(b) the value or number cannot be determined by agreement between the SEGC and the claimant;

the value or number is to be determined by arbitration in accordance with this regulation.

7.5.81(3)    
The reference to arbitration is a reference to persons appointed, in accordance with subregulation (4), for the purposes of the reference.

7.5.81(4)    
For the purposes of the reference to arbitration:

(a) if the claim relates to a participating market licensee - the participating market licensee must make the appointment, or the participating market licensees must jointly make the appointment; and

(aa) if the claim relates to the licensed CS facility operated by ACH - ACH must make the appointment; and

(ab) if the claim relates to a participating market licensee and to the licensed CS facility operated by ACH - the participating market licensee and ACH must jointly make the appointment; and

(b) 3 persons must be appointed; and

(c) the Minister must have approved the appointment of each person in writing; and

(d) at least 2 of the persons must not be any of the following:

(i) if the claim relates to a participating market licensee:

(A) a representative of the participating market licensee;

(B) a participant of the participating market licensee;

(C) a representative of a participant of the participating market licensee;

(ii) if the claim relates to the licensed CS facility operated by ACH:

(A) a representative of ACH;

(B) a participant of the licensed CS facility;

(C) a representative of a participant of the licensed CS facility;

(iii) if the claim relates to a participating market licensee and to the licensed CS facility operated by ACH:

(A) a representative of the participating market licensee;

(B) a participant of the participating market licensee;

(C) a representative of a participant of the participating market licensee;

(D) a representative of ACH;

(E) a participant of the licensed CS facility;

(F) a representative of a participant of the licensed CS facility;

(iv) in any case - a representative of the SEGC.

7.5.81(5)    
If, before the commencement of this regulation, an arbitration:

(a) was to take place but had not begun; or

(b) had begun but had not been concluded;

the arbitration must take place, or continue, as if it were an arbitration under this regulation.

7.5.81(6)    
In this regulation:

cash settlement provision
means any of the following provisions:

(a) regulation 7.5.28 ;

(b) regulation 7.5.29 ;

(c) - (i) (Omitted)

(j) regulation 7.5.57 ;

(k) regulation 7.5.62 ;

(l) subregulation 7.5.65(1) ;

(m) subregulation 7.5.65(2) .