Commonwealth Consolidated Regulations

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CORPORATIONS REGULATIONS 2001 - REG 7.5.70

Making of claims

             (1)  The SEGC may publish, in each State and Territory, in a daily newspaper circulating generally in that State or Territory, 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.

             (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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