Commonwealth Numbered Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

CORPORATIONS ACT 2001 No. 50, 2001 - SECT 954D

Claim by lender in respect of borrower's failure to discharge obligation

(1) If, as at the end of the compliance period in relation to an obligation of the borrower under a guaranteed securities loan to transfer or pay securities or security benefits, or to pay some other amount (except an excluded amount):

the lender has transferred borrowed securities in accordance with the agreement; and

the obligation remains undischarged to any extent;

the lender may make a claim in respect of the obligation.

(2) A participating exchange may make a single claim under this section in respect of a number of obligations, whether arising under the same or different guaranteed securities loans. (3) A claim made under subsection (2) is to be treated for the purposes of sections 954G and 954H as if it were a separate claim in respect of each of the obligations to which it relates.

AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback