Commonwealth Consolidated Regulations

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CORPORATIONS REGULATIONS 2001 - REG 7.5.70

Making of claims

  (1)   The SEGC may publish, in accordance with subregulation (1A), a notice, using Form 720, specifying a day, not being earlier than 3 months after the publication of the notice, on or before which claims against the SEGC may be made, being claims that, because of a dealer specified in the notice having become insolvent, this Subdivision entitles persons to make.

  (1A)   The notice is published in accordance with this subregulation if it is published in a manner that results in the notice being accessible to the public and reasonably prominent.

  (2)   If this Subdivision entitles a person to make a claim, the claim must be in writing and must be served on the SEGC:

  (a)   if there has been published in accordance with subregulation   (1) a notice specifying a day on or before which claims may be made, being claims that, because of the dealer having become insolvent on that day, this Subdivision entitles persons to make--on or before that day; or

  (b)   in any other case--within 6 months after the person becomes aware of the dealer having become insolvent on that day.

  (3)   A claim that is not made in accordance with subregulation   (2) is barred unless the SEGC otherwise determines.

  (4)   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   (1).


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