CORPORATE LAW REFORM ACT 1992 No. 210 of 1992 - SECT 139

CORPORATE LAW REFORM ACT 1992 No. 210 of 1992 - SECT 139

139. After section 952 of the Corporations Law the following section is
inserted: Cash settlement of claims - SCH-regulated transfers

"952A. If:

   (a)  SEGC:

        (i)    allows under subsection 950(2) a claim in respect of a purchase
               of securities by the claimant from a dealer; or

        (ii)   allows under subsection 952(3) a claim in respect of a purchase
               of securities by a dealer on behalf of the claimant; and

   (b)  a transfer of the securities pursuant to the purchase would be an
        SCH-regulated transfer; and

   (c)  it is not reasonably practicable for SEGC to obtain securities of the
        same kind and number as the first-mentioned securities from the dealer
        before the end of:

        (i)    if the SCH business rules, as in force when the Board allows
               the claim, prescribe a period, for the purposes of this
               section, in relation to a class of claims that includes the
               claim - that period; or

        (ii)   otherwise - such period as the Board, having regard to all the
               circumstances of the claim, considers reasonable; and

   (d)  it is not reasonably practicable for SEGC to obtain, otherwise than
        from the dealer, securities of that kind and number before the end of
        that period because:

        (i)    whether because that dealing in those securities is suspended
               or for any other reason, there exists at no time during that
               period an orderly market in those securities; or

        (ii)   the total number of those securities offered for sale on stock
               markets of participating exchanges or Exchange subsidiaries at
               times during that period when there exists an orderly market in
               those securities is insufficient; SEGC must satisfy the claim
               by paying to the claimant the amount that, when the claimant
               became entitled to make the claim, was the amount of the actual
               pecuniary loss suffered by the claimant in respect of the
               purchase.".