Corporations Regulations 2001

Subregulation (2) applies if:

a participant has received under the agreement for a sale or purchase of securities by the participant on behalf of a person, the consideration for the sale or settlement documents in relation to the purchase, as the case may be; and

subregulation 7.5.24(1), 7.5.25(1), 7.5.26(1) or 7.5.27(1) entitles the person to make a claim against the SEGC under Subdivision 4.3 in respect of the sale or purchase.

This Subdivision does not, because of:

a dealer, being the participant or a partner in the participant, having become insolvent at a particular time; and

the participant having received, under the agreement, the consideration or the settlement documents;

If:

because of a dealer having become insolvent on a particular day, this Subdivision entitles a person to make a claim (the first claim) in respect of property; and

because of a dealer having become insolvent on a later day, this Subdivision entitles a person to make another claim in respect of the property;

the person has made the first claim and the SEGC has allowed or disallowed it; or

the SEGC is satisfied that if the first claim had been made the SEGC would have disallowed it; or

the SEGC is satisfied that, when the person first became aware of the dealer mentioned in paragraph (b) having become insolvent on the later day:

the first claim was barred; or

it was no longer reasonably practicable for the person to make the first claim before it became barred.

If:

at a particular time, the SEGC allows a claim in respect of property; and

because of:

a dealer having become insolvent (whether before, at or after that time); and

the property having, before that time, been entrusted or received as mentioned in paragraph 7.5.64(1)(b);