Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 949

949. (1) Where, as at the end of the completion period in relation to a
reportable transaction that is a sale by a dealer to another dealer:

   (a)  the first-mentioned dealer has supplied, or is ready, willing and able
        to supply, to the other dealer, under the agreement for the sale,
        settlement documents in relation to the sale; and

   (b)  the other dealer has not paid to the first-mentioned dealer, under
        that agreement, the consideration for the sale; the first-mentioned
        dealer may make a claim in respect of the sale.

(2) A dealer may make a single claim under this section in respect of the
total amount of the unpaid consideration in respect of 2 or more sales.

(3) If the business rules of an Exchange subsidiary purport to authorise that
subsidiary to make under this section on behalf of a dealer a claim that the
dealer is entitled to make, that subsidiary is entitled to make that claim on
behalf of that dealer.

(4) If an Exchange subsidiary is entitled under subsection (3) to make claims
under this section on behalf of 2 or more dealers, that subsidiary is entitled
to make a single claim under this section on behalf of both or all of those
dealers in respect of the sum of the amounts in respect of which it is
entitled to make separate claims on behalf of each of those dealers.

(5) Where a dealer, or an Exchange subsidiary on behalf of a dealer, makes a
claim in respect of a sale of eligible securities by the dealer to another
dealer and the Board is satisfied that:

   (a)  subsection (1) or (3) entitles the claimant to make the claim;

   (b)  the dealer has:

        (i)    for the purposes of the claim, supplied to SEGC; or

        (ii)   under the agreement for the sale, supplied to the other dealer;
settlement documents in relation to the sale;

   (c)  the consideration for the sale has not been paid to the dealer under
        the agreement for the sale; and

   (d)  the agreement has not been discharged or otherwise terminated; SEGC
        shall allow the claim and pay to the claimant an amount equal to the
        amount of the consideration.

(6) A claim made under subsection (2) or (4) shall be treated for the purposes
of subsection (5) as if it consisted of a separate claim in respect of each of
the sales to which it relates.