Claim in respect of contravention of ASTC certificate cancellation provisions
7.5.60 Claim in respect of contravention of ASTC certificate cancellation provisions
A person who suffers pecuniary loss in respect of a contravention, by a dealer, of the ASTC certificate cancellation provisions may make a claim in respect of the loss.
The loss must not be a loss in respect of an unauthorised execution (within the meaning of paragraph 7.5.53(4)(a)) in respect of which the person has made, or is entitled to make, a claim under Subdivision 4.7.
The person must not have been involved in the contravention.
The following paragraphs must be satisfied in relation to the dealer:
the dealer was a participant of a participating market licensee on the day of the contravention;
either:
the dealer was carrying on a securities business in Australia on that day; or
if the dealer was not so carrying on such a business on that day—the last securities business that the dealer carried on before that day was carried on in Australia.
This Act’s bill:Explanatory statement
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