CORPORATIONS REGULATIONS 2001 - REG 7.5.56 How and when claim may be made

CORPORATIONS REGULATIONS 2001 - REG 7.5.56

  (1)   A claim must:

  (a)   be in writing; and

  (b)   be served on the SEGC:

  (i)   if a notice under subregulation   (4) applies to the claim--before the end of the last application day specified in the notice; or

  (ii)   in any other case--within 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 subregulation   (1), a notice under subregulation   (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 the SEGC by the time required by paragraph   (1)(b) is barred unless the SEGC otherwise determines.

  (4)   The SEGC may publish, in accordance with subregulation (4A), a notice, using Form 719A, that:

  (a)   names a particular dealer; and

  (b)   requires that all claims in respect of unauthorised executions, by the named dealer, during a period (the applicable period ) specified in the notice in accordance with subregulation   (5) must be served on the SEGC before the day (the last application day ) specified in the notice in accordance with subregulation   (6).

  (4A)   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.

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

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

  (7)   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   (4).