Western Australian Numbered Acts Western Australian Numbered Acts (1) This section
applies to a default of a law practice arising from or constituted by an act
or omission that was committed by only one associate of the practice, where
the default involves more than one of the cases referred to in
section 348(2), (3) or (4).
(2) The Trust may
treat the default to which this section applies as if the default consisted of
2 or more separate defaults —
(a) one
of which is a default to which this Division applies, where this jurisdiction
is the relevant jurisdiction; and
(b) the
other or others of which are defaults to which this Division does not apply,
where another jurisdiction or jurisdictions are the relevant jurisdictions.
(3) The Trust may
treat a claim about the default to which this section applies as if the claim
consisted of —
(a) one
or more claims made under this Division; and
(b) one
or more claims made under a corresponding law or laws.
(4) A claim about a
default to which this section applies is to be assessed on the basis that the
fidelity funds of the relevant jurisdictions involved are to
contribute —
(a) in
equal shares in respect of the default, and disregarding the capping and
sufficiency provisions of those jurisdictions; or
(b) in
other shares as agreed by the Trust and the corresponding authority or
authorities involved.
(5)
Subsection (4) does not affect the application of the capping and
sufficiency requirements of this jurisdiction in respect of the amount payable
from the Guarantee Fund after the claim has been assessed.