Commonwealth Consolidated Acts

CORPORATIONS ACT 2001 - SECT 888E

  (1)   Claims are to be made and determined in accordance with:

  (a)   the regulations; and

  (b)   any relevant provisions of the SEGC's operating rules.

  (2)   Without limiting subsection   (1), the regulations, or the SEGC's operating rules, may do all or any of the following:

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

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

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

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

  (3)   The regulations, or the SEGC's operating rules, may impose other requirements to be complied with by the SEGC in relation to claims (including, for example, requirements to notify claimants whether their claims have been allowed).

  (4)   If a provision of the SEGC's operating rules is wholly or partly inconsistent with regulations made for the purposes of this section, the provision of the SEGC's operating rules is, to the extent of the inconsistency, of no effect.