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CORPORATIONS REGULATIONS 2001 - REG 7.5.30 Making of claims

CORPORATIONS REGULATIONS 2001 - REG 7.5.30

Making of claims

  (2)   Subregulations   7.5.24(1), 7.5.25(1), 7.5.26(1) and 7.5.27(1) do not entitle a person ( person 1 ) to make a claim in respect of:

  (a)   a sale of securities by another person on behalf of person 1; or

  (b)   a purchase of securities by another person on behalf of person 1;

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 participant and carried on a securities business in Australia.

  (3)   A claim must be in writing and must be served on the SEGC within 6 months after the day on which the claimant became entitled to make the claim.

  (4)   A claim that is not made within the period prescribed by subregulation   (3) is barred unless the SEGC otherwise determines.

  (5)   The SEGC may publish, in accordance with subregulation (5A), a notice that:

  (b)   names a particular dealer; and

  (c)   requires that all claims under this Subdivision, by the named dealer, during a period (the applicable period ) specified in the notice in accordance with subregulation   (6) must be served on the SEGC before the day (the last application day ) specified in the notice in accordance with subregulation   (7).

  (5A)   The notice is published in accordance with this subregulation if it is published in a manner that results in the notice being accessible to the public and reasonably prominent.

  (6)   The applicable period must be a period that starts and ends before the day on which the notice is first published.

  (7)   The last application day must be at least 3 months after the day on which the notice is first published.

  (8)   The SEGC, a member of the Board and any employee of, or person acting on behalf of, the SEGC each has qualified privilege in respect of the publication of a notice under subregulation   (5).

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