Status of claim against the National Guarantee Fund
10.2.25 Status of claim against the National Guarantee Fund
This regulation applies if:
a person made a claim in relation to a matter, before the FSR commencement, under a provision of any of the following Divisions of the old Corporations Act:
Division 6 of Part 7.10 (dealing with contract guarantees);
Division 6A of Part 7.10 (dealing with securities loans guarantees);
Division 6B of Part 7.10 (dealing with net obligations);
Division 6C of Part 7.10 (dealing with transfer service delivery guarantees);
Division 7 of Part 7.10 (dealing with unauthorised transfer);
Division 7A of Part 7.10 (dealing with contraventions of SCH certificate cancellation provisions);
Division 8 of Part 7.10 (dealing with insolvent members); and
the claim had not been withdrawn, or finally determined in accordance with the old Corporations Act, before the FSR commencement.
On and after the FSR commencement:
Division 1, and Divisions 6 to 9, of Part 7.10 of the old Corporations Act continue to have effect in relation to the claim; and
regulations made for Part 7.10 of the old Corporations Act, as in force immediately before the FSR commencement, continue to have effect in relation to the claim; and
Part 7.5 of the Act has effect in relation to a matter to which paragraphs (a) and (b) do not apply.
This Act’s bill:Explanatory statement
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