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CORPORATIONS ACT 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS    View history reference

PART 7.5 - COMPENSATION REGIMES FOR FINANCIAL MARKETS    View history reference

Division 3 - Approved compensation arrangements    View history reference

Subdivision D - Are compensation arrangements adequate?    View history reference

SECTION 885G  MAKING AND DETERMINATION OF CLAIMS  

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885G(1)  [Claims procedure]  


The compensation rules must provide for how claims in respect of Division 3 losses are to be made and determined, and for how claimants are notified of the outcome of their claims.

885G(2)  [Specific rules for making and determining claims]  


Without limiting subsection (1), the compensation rules may:


(a) require a person making a claim to pay money, or transfer other property, in support of a claim; and


(b) provide for claims to be disallowed unless persons exercise rights of set-off; and


(c) set time limits for the making of claims; and


(d) provide for claims to be partially allowed (including, for example, in a case where the operator considers that the claimant's conduct contributed to the loss).


 



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