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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 5 - Provisions common to both kinds of compensation arrangements    View history reference

SECTION 892E  POWER TO REQUIRE ASSISTANCE FOR PURPOSE OF DEALING WITH A CLAIM  

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892E(1)  [Power to require assistance]  


If Division 3 arrangements give responsibilities (as mentioned in paragraph 885I(2)(c)) to a person acting under an arrangement with the operator of the market concerned, the person may give the operator a written request to give such assistance as the person requires for the purpose of fulfilling the person's responsibilities under the arrangement.

892E(2)  [Power of SEGC to require assistance]  


The SEGC may give a member of the SEGC, or a subsidiary of a member of the SEGC, a written request to give such assistance as the SEGC requires for the purpose of:


(a) dealing with a claim; or


(b) the assessment of risks to the NGF.

892E(3)  [Reasonableness]  


A requirement for assistance under subsection (1) or (2) must be reasonable.

892E(4)  [Compliance]  


A person who is required under this section to give assistance must give the assistance.

892E(5)  [Failure to give assistance]  


If the person fails to give the assistance, the person who required the assistance may apply to the Court for, and the Court may make, an order that the other person give the assistance.


 



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