Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 973

973. (1) SEGC:

   (a)  may buy securities for the purpose of complying with subsection 950
        (2) or 952 (3), paragraph 960 (2) (a) or subsection 963 (3); and

   (b)  may pay money out of the Fund for the purpose of so buying securities
        or for any other purpose connected with complying with that subsection
        or paragraph.

(2) Securities bought by SEGC as mentioned in subsection (1) form part of the
Fund until they are supplied in accordance with this Part to a claimant or
sold in accordance with subsection (3).

(3) Where:

   (a)  the Board:

        (i)    makes in relation to a claim in respect of a purchase of
               securities a decision under section 953;

        (ii)   decides that it is not practicable for SEGC to obtain, or to
               obtain within a reasonable time, securities for the purpose of
               complying with paragraph 960 (2) (a) in relation to a claim; or

        (iii)  makes in relation to a claim a decision under subsection 964
               (1); and

   (b)  SEGC has, before making the decision, bought securities for the
        purpose of:

        (i)    supplying to the claimant settlement documents in relation to
               the purchase;

        (ii)   complying with paragraph 960 (2) (a) in relation to the claim;
               or

        (iii)  supplying under subsection 963 (3), in respect of the claim,
               securities or documents of title to securities;
as the case may be; SEGC shall, as soon as practicable after making the
decision, sell the securities so bought and pay the proceeds of sale into the
Fund.