Commonwealth Numbered Acts

FUTURES INDUSTRY ACT 1986 No. 72 of 1986 - SECT 119

119. (1) A relevant organisation may cause to be published in a daily
newspaper circulating generally in the Territory (and if, in any State or
other Territory, that newspaper does not circulate generally, in a newspaper
that does so circulate in that State or other Territory), a notice in the
prescribed form specifying a date, not being earlier than 3 months after the
publication of the notice, on or before which claims for compensation from the
fidelity fund, in relation to the person specified in the notice, may be made.

(2) A claim for compensation from a fidelity fund of a relevant organisation
in respect of a pecuniary loss shall be made in writing to the relevant
organisation-

   (a)  where a notice under sub-section (1) has been published, on or before
        the date specified in the notice; or

   (b)  where no such notice has been published, within 6 months after the
        claimant became aware of the pecuniary loss, and a claim that is not
        so made is barred unless the relevant organisation otherwise
        determines.

(3) It is a defence to an action for damages against a relevant organisation,
a member of a Board of a relevant organisation or a member or employee of a
relevant organisation in respect of the publication of a notice under
sub-section (1) if the defendant establishes that the notice was published in
good faith for the purposes of this section.