Commonwealth Consolidated Regulations

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Claimant may be required to exercise right of set-off

             (1)  If:

                     (a)  a person (the claimant ) has made a claim in respect of a liability of another person (the defaulter ); and

                     (b)  the claimant has a right, whether under an agreement or otherwise, to set off a liability of the claimant to the defaulter against the liability mentioned in paragraph (a);

the SEGC may refuse to allow the claim until the claimant has exercised the right.

             (2)  The SEGC may, by notice in writing served on a person, require the person to give the SEGC specified information relating to the existence or exercise of rights of set-off.

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