Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 908

908. (1) Subject to this Part, a person who has, whether before or after the
commencement of this Part, suffered pecuniary loss as referred to in
subsection 907 (1) is entitled to claim compensation from the fidelity fund of
the relevant securities exchange and to take proceedings in the Court as
provided in this Part against the securities exchange to establish that claim.

(2) A person does not have a claim against a fidelity fund of a securities
exchange in respect of:

   (a)  pecuniary loss suffered before 1 July 1981 or on a day on which the
        securities exchange was a participating exchange; or

   (b)  pecuniary loss in respect of money or other property suffered after
        the money or property had, in due course of the administration of a
        trust, ceased to be under the sole control of a member of the
        securities exchange or of a partner or partners in a member firm
        recognised by the securities exchange.

(3) Subject to this Part, the amount that a claimant is entitled to claim as
compensation from a fidelity fund of a securities exchange is the amount of
the actual pecuniary loss suffered by the claimant (including the reasonable
costs of, and disbursements incidental to, the making and proof of the claim)
less the amount or value of all money or other benefits received or receivable
by the claimant from a source other than the fund in reduction of the loss.

(4) In addition to any compensation that is payable under this Part, interest
is payable out of the fidelity fund on the amount of the compensation less any
amount attributable to costs and disbursements, at the rate of 5% per annum
(or, if another rate is prescribed, that other rate) calculated from and
including the day on which the pecuniary loss was suffered until the day on
which the claim is satisfied.

(5) A claim duly made before the commencement of this Part against the
fidelity fund of a securities exchange under a law corresponding to this
section shall be deemed to have been duly made against that fidelity fund
under this section.