Form 719A
(subregulation 7.5.56(4))
Corporations Regulations 2001
COMPENSATION FOR LOSSES RESULTING FROM THE UNAUTHORISED TRANSFER OF RIGHTS, SHARES, DEBENTURES OR OTHER SECURITIES BY DEALER
This notice relates to the unauthorised transfer of securities by (insert name of the dealer who is claimed to have transferred securities without authority of transferor) (in this notice called ‘the dealer’) of (insert residential address of the dealer) *formerly carrying on / *carrying on business at (insert address of the principal place of business of the dealer, including State or Territory).
A person wishing to make a claim under regulation 7.5.54 or 7.5.55 of the Corporations Regulations 2001 in respect of loss suffered as a result of a transfer of securities executed between (insert date of first day of applicable period) and (insert date of last day of applicable period, being a date before the date on which the notice is first to be published) (inclusive) by the dealer without authority must lodge his or her claim with:
Securities Exchanges Guarantee Corporation
(insert address, including State or Territory and postcode).
The claim must be made in writing before the end of (specify last application day, at least 3 months after last day of publication of notice).
Under subregulation 7.5.56(3) of the Corporations Regulations 2001, a claim that is not made before the end of that day is barred unless the Board of the Securities Exchanges Guarantee Corporation otherwise determines.
The effect of regulation 7.5.54 of the Corporations Regulations 2001 is to allow a person who:
owned securities that were transferred by a dealer; and
did not authorise the dealer to transfer those securities; and
suffered loss as a result of the transfer;
to make a claim for compensation for the loss suffered in respect of the securities.
The effect of subregulation 7.5.55(1) of the Corporations Regulations 2001 is to allow:
a person to whom securities were transferred by the dealer without the authority of the owner of the securities; or
a successor in title of that person;
to make a claim for compensation for the loss suffered in respect of the securities.
Under regulation 7.5.55 of the Corporations Regulations 2001, the following persons are not entitled to make a claim:
a person who knew that the owner of the securities had not authorised the dealer to transfer them;
a person who is connected with the dealer in a way described in regulation 7.5.04 of the Corporations Regulations 2001.
(signature of an officer of the SEGC)
(under the signature add the words ‘for the Securities Exchanges Guarantee Corporation’)
(add the date of signature)
* Omit if not applicable
This Act’s bill:Explanatory statement
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