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CORPORATIONS ACT 2001 No. 50, 2001 - SECT 959
How and when claim may be made
(1) A claim must:
- be in writing; and
- be served on SEGC:
- if a notice under subsection (4) applies to the claimbefore the
end of the last application day specified in the notice; or
- in any other casewithin 6 months after the day on which the
claimant first became aware that the claimant had suffered loss as a result of
the unauthorised execution.
(2) For the purposes of subsection (1), a notice under
subsection (4) applies to a claim if the claim is in respect of an
unauthorised execution, by the dealer named in the notice, during the
applicable period specified in the notice.
(3) A claim that is not served on SEGC by the time required by
paragraph (1)(b) is barred unless the Board otherwise determines.
(4) SEGC may publish, in each State and Territory in a daily newspaper
circulating in that State or Territory, a notice that:
- is in the
prescribed form; and
- names a particular dealer; and
- requires that all claims in respect of unauthorised executions, by the
named dealer, during a period (in this section called the applicable period )
specified in the notice in accordance with subsection (5) must be served
on SEGC before the day (in this section called the last application day )
specified in the notice in accordance with subsection (6).
(5) The applicable period must be a period that starts and ends before:
- if each publication of the notice occurs on the same daythe day on which
the notice is published; or
- in any other casethe first day on which the notice is published.
(6) The last application day must be at least 3 months after:
- if each
publication of the notice occurs on the same daythe day on which the
notice is published; or
- in any other casethe last day on which the notice is published.
(7) SEGC, a member of the Board and any employee of, or person acting on
behalf of, SEGC each have qualified privilege in respect of the publication of
a notice under subsection (4).
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