Commonwealth Numbered Acts

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CORPORATIONS ACT 2001 No. 50, 2001 - SECT 954

Making of claims

(1) Neither subsection 949(1) nor 950(1) entitles a person to make a claim in respect of:

(a)
a sale of securities by the person to another person; or

(b)
a purchase of securities by the person from another person;

as the case may be, unless, on the day on which the agreement for the sale or purchase was entered into:

(c)
the first-mentioned person was a member organisation of a participating exchange and carried on in this jurisdiction a securities business; and

(d)
the other person was a member organisation of a participating exchange.

(2) Neither subsection 951(1) nor 952(1) entitles a person to make a claim in respect of:

(a)
a sale of securities by another person on behalf of the first-mentioned person; or

(b)
a purchase of securities by another person on behalf of the first-mentioned person;

as the case may be, unless, on the day on which the agreement for the sale or purchase was entered into, the other person was a member organisation of a participating exchange and carried on in this jurisdiction a securities business.

(3) In subsections (1), (2) and (2A):

"person" includes a partnership.

(4) A claim must be in writing and must be served on SEGC within 6 months after the day on which the claimant became entitled to make the claim. (5) A claim that is not made within the period prescribed by subsection (4) is barred unless the Board otherwise determines.


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