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LEGAL PROFESSION UNIFORM LAW (NSW) - SECT 236
Time limit for making claims
236 Time limit for making claims
(1) Subject to subsection (2), a claim does not lie against the fidelity fund
unless the prospective claimant notifies the fidelity authority of the default
concerned within-- (a) the period of 6 months after the prospective claimant
becomes aware of the default; or
(b) a further period allowed by the fidelity
authority; or
(c) a further period allowed by the Supreme Court of the
jurisdiction to which the fidelity authority belongs where the authority
refuses to allow a further period under paragraph (b).
(2) If the fidelity
authority publishes a notice under section 235 fixing a final date for making
claims about a default, a claim may be made-- (a) up to and including the
final date fixed under the notice; or
(b) within a further period allowed by
the authority; or
(c) within a further period allowed by the Supreme Court of
the jurisdiction to which the authority belongs where the authority refuses to
allow a further period under paragraph (b)--
even though it would have been
barred under subsection (1) had the notice not been published.
(3) The
Supreme Court may allow a further period referred to in subsection (1)(c) or
(2)(c) if it is satisfied that it would be-- (a) reasonable to do so after
taking into account all ascertained and contingent liabilities of the
fidelity fund; and
(b) appropriate to do so in a particular case having
regard to matters the Supreme Court considers relevant.
(4) The fidelity
authority must take reasonable steps to individually notify potential
claimants of whom it is aware of their entitlement to make a claim within a
reasonable specified period of at least 21 days after the notification.
(5)
Notification under subsection (4) can be made only while relevant claims can
be made under subsection (1) or (2), but a claim by a potential claimant who
has been so notified-- (a) may be made during the specified period even if it
would otherwise be barred under subsection (1) or (2); and
(b) is ineffective
if made after the specified period.
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