SETTLEMENT AGENTS ACT 1981 - SECT 101
SETTLEMENT AGENTS ACT 1981 - SECT 101
101 . Advertising for claims in relation to defaulting licensee
(1) The chief
executive officer may cause to be published a notice in a newspaper
circulating in the district in which the defaulting licensee is or was
carrying on business as a settlement agent, and the notice shall fix a date
not being earlier than 3 months after the publication of the notice, within
which claims shall be made.
(2) Any claim not made
in writing to the chief executive officer on or before the date so fixed is
barred unless the chief executive officer otherwise determines.
(3) After the date so
fixed the chief executive officer is at liberty to distribute in accordance
with this Act, the sum from time to time available to be applied in
reimbursement under sections 93 and 95, having regard only to judgments and
claims allowed against the Account.
[Section 101 amended: No. 77 of 2006 Sch. 1 cl.
156(2); No. 58 of 2010 s. 162.]