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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 892F  RELEVANT AUTHORITY'S RIGHT OF SUBROGATION IF COMPENSATION IS PAID  

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892F(1)  [Subrogation of claimant's rights]  


If compensation in respect of a claim is paid under Part 7.5 arrangements, the relevant authority in relation to the arrangements is subrogated, to the extent of that payment, to all the claimant's rights and remedies in relation to the loss to which the claim relates.

892F(2)  [Recovery of costs]  


The relevant authority may also recover from the participant or participants who caused the loss the costs it incurred in determining the claim.


 



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