Commonwealth Consolidated Regulations

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CORPORATIONS REGULATIONS 2001 - REG 7.5.60

Claim in respect of contravention of ASTC certificate cancellation provisions

  (1)   A person who suffers pecuniary loss in respect of a contravention, by a dealer, of the ASTC certificate cancellation provisions may make a claim in respect of the loss.

  (2)   The loss must not be a loss in respect of an unauthorised execution (within the meaning of paragraph   7.5.53(4)(a)) in respect of which the person has made, or is entitled to make, a claim under Subdivision   4.7.

  (3)   The person must not have been involved in the contravention.

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

  (a)   the dealer was a participant of a participating market licensee on the day of the contravention;

  (b)   either:

  (i)   the dealer was carrying on a securities business in Australia on that day; or

  (ii)   if the dealer was not so carrying on such a business on that day--the last securities business that the dealer carried on before that day was carried on in Australia.


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