Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 953

953. Where:

   (a)  SEGC:

        (i)    allows under subsection 950 (2) a claim in respect of a
               purchase of eligible securities by the claimant from a dealer;
               or

        (ii)   allows under subsection 952 (3) a claim in respect of a
               purchase of eligible securities by a dealer on behalf of the
               claimant;

   (b)  it is not reasonably practicable for SEGC to obtain from the dealer,
        before the end of:

        (i)    if the business rules of a participating exchange of which the
               dealer is a member organisation, being those business rules as
               in force when the Board allows the claim, prescribe a period,
               for the purposes of this section, in relation to a class of
               claims that includes the claim-that period; or

        (ii)   otherwise-such period as the Board, having regard to all the
               circumstances relating to the claim, considers reasonable;
settlement documents in relation to the purchase; and

   (c)  because:

        (i)    whether by reason that dealing in those securities is suspended
               or for any other reason, there exists at no time during that
               period an orderly market in those securities; or

        (ii)   the total number of those securities offered for sale on stock
               markets of participating exchanges or Exchange subsidiaries at
               times during that period when there exists an orderly market in
               those securities is insufficient;
it is not reasonably practicable for SEGC to obtain before the end of that
period, otherwise than from the dealer, settlement documents in relation to
the purchase; the Board may decide to pay to the claimant the amount that,
when the claimant became entitled to make the claim, was the amount of the
actual pecuniary loss suffered by the claimant in respect of the purchase, and
if the Board does so, SEGC shall pay that amount to the claimant.