Commonwealth Consolidated Regulations

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CORPORATIONS REGULATIONS 2001 - REG 7.5.30

Making of claims

             (2)  Subregulations 7.5.24(1), 7.5.25(1), 7.5.26(1) and 7.5.27(1) do not entitle a person ( person 1 ) to make a claim in respect of:

                     (a)  a sale of securities by another person on behalf of person 1; or

                     (b)  a purchase of securities by another person on behalf of person 1;

as the case may be, unless, on the day on which the agreement for the sale or purchase was entered into, the other person was a participant and carried on a securities business in Australia.

             (3)  A claim must be in writing and must be served on the SEGC within 6 months after the day on which the claimant became entitled to make the claim.

             (4)  A claim that is not made within the period prescribed by subregulation (3) is barred unless the SEGC otherwise determines.

             (5)  The SEGC may publish, in each State and Territory in a daily newspaper circulating in that State or Territory, a notice that:

                     (b)  names a particular dealer; and

                     (c)  requires that all claims under this Subdivision, by the named dealer, during a period (the applicable period ) specified in the notice in accordance with subregulation (6) must be served on the SEGC before the day (the last application day ) specified in the notice in accordance with subregulation (7).

             (6)  The applicable period must be a period that starts and ends before:

                     (a)  if each publication of the notice occurs on the same day--the day on which the notice is published; or

                     (b)  in any other case--the first day on which the notice is published.

             (7)  The last application day must be at least 3 months after:

                     (a)  if each publication of the notice occurs on the same day--the day on which the notice is published; or

                     (b)  in any other case--the last day on which the notice is published.

             (8)  The SEGC, a member of the Board and any employee of, or person acting on behalf of, the SEGC each has qualified privilege in respect of the publication of a notice under subregulation (5).



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