Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 954

954. (1) Neither subsection 949 (1) nor 950 (1) entitles a person to make a
claim in respect of:

   (a)  a sale of eligible securities by the person to another person; or

   (b)  a purchase of eligible securities by the person from another person;
        as the case may be, unless, on the day on which the agreement for the
        sale or purchase was entered into:

   (c)  the first-mentioned person was a member organisation of a
        participating exchange and carried on a business of dealing in
        securities; and

   (d)  the other person was a member organisation of a participating
        exchange.

(2) Neither subsection 951 (1) nor 952 (1) entitles a person to make a claim
in respect of:

   (a)  a sale of eligible securities by another person on behalf of the
        first-mentioned person; or

   (b)  a purchase of eligible securities by another person on behalf of the
        first-mentioned person; as the case may be, unless, on the day on
        which the agreement for the sale or purchase was entered into, the
        other person was a member organisation of a participating exchange and
        carried on a business of dealing in securities.

(3) In subsections (1) and (2):

"person" includes a partnership.

(4) A claim shall be in writing and shall be served on SEGC within 6 months
after the day on which the claimant became entitled to make the claim.

(5) A claim that is not made within the period prescribed by subsection (4) is
barred unless the Board otherwise determines.