Commonwealth Consolidated Regulations

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Status of claim against the National Guarantee Fund

             (1)  This regulation applies if:

                     (a)  a person made a claim in relation to a matter, before the FSR commencement, under a provision of any of the following Divisions of the old Corporations Act:

                              (i)  Division 6 of Part 7.10 (dealing with contract guarantees);

                             (ii)  Division 6A of Part 7.10 (dealing with securities loans guarantees);

                            (iii)  Division 6B of Part 7.10 (dealing with net obligations);

                            (iv)  Division 6C of Part 7.10 (dealing with transfer service delivery guarantees);

                             (v)  Division 7 of Part 7.10 (dealing with unauthorised transfer);

                            (vi)  Division 7A of Part 7.10 (dealing with contraventions of SCH certificate cancellation provisions);

                           (vii)  Division 8 of Part 7.10 (dealing with insolvent members); and

                     (b)  the claim had not been withdrawn, or finally determined in accordance with the old Corporations Act, before the FSR commencement.

             (2)  On and after the FSR commencement:

                     (a)  Division 1, and Divisions 6 to 9, of Part 7.10 of the old Corporations Act continue to have effect in relation to the claim; and

                     (b)  regulations made for Part 7.10 of the old Corporations Act, as in force immediately before the FSR commencement, continue to have effect in relation to the claim; and

                     (c)  Part 7.5 of the Act has effect in relation to a matter to which paragraphs (a) and (b) do not apply.

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