Commonwealth Consolidated Regulations

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CORPORATIONS REGULATIONS 2001 - REG 7.5.75

Reduction in compensation

             (1)  The SEGC may reduce an amount of compensation by reference to 1 or more of the following:

                     (a)  a right of set-off available to the claimant;

                     (b)  the extent to which the claimant was responsible for causing the loss.

             (2)  If:

                     (a)  the claimant has assigned any of its rights or remedies in relation to the loss; and

                    (aa)  the claimant has received a benefit from any person for assigning the right or remedy; and

                     (b)  the claimant assigned rights or remedies as mentioned in paragraph (a) without the written consent of the SEGC; and

                     (c)  the claimant continues to suffer a loss at the date of the determination of the claim;

the SEGC may reduce the amount of compensation by the amount that fairly represents the extent to which the claimant has, without the written consent of the SEGC, adversely affected the SEGC's ability under section 892F of the Act to recover the amount of the compensation that would otherwise be payable to the claimant in respect of the claimant's claim.



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