South Australian Current Acts South Australian Current Acts65—Rights of the Society
(1) Subject to this
section, where the Society has made any payment to a claimant under this Part,
the Society is, to the extent of the payment, subrogated to the rights of the
claimant against any person liable at law or in equity for the
fiduciary or professional default in respect of which the payment was made.
(2) This section does
not confer on the Society any right to recover money from a person whose
liability in respect of a fiduciary or professional default does not arise
from a wrongful or negligent act or omission on that person's part.