7.5.69
CurrentNo claim in certain other cases
Chapter 7Financial services and markets
Part 7.5Compensation regimes for financial markets
Division 4NGF Compensation regime
Subdivision 4.9Claims in respect of insolvent participants
7.5.69 No claim in certain other cases
This Subdivision does not, because of a dealer having become insolvent on a particular day, entitle a person to make a claim in respect of property if:
(a)
before that day the property had, in due course of the administration of a trust, ceased to be under the sole control of the dealer; or
(b)
the SEGC, or the Court, is satisfied that circumstances that materially contributed to the dealer becoming insolvent on that day were due to, or caused directly or indirectly by, an act or omission of the person.
This Act’s bill:Explanatory statement
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