Document ID: chunk:federal_register_of_legislation:C2025C00185:section:888j
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 888J
Character Range: 3476922–3478098

888J  The SEGC may enter into contracts of insurance or indemnity
 (1) The SEGC may enter into a contract with a person (the insurer) carrying on a fidelity insurance business under which the SEGC will be insured or indemnified against liability in respect of claims to the extent and in the manner provided by the contract.
 (2) The contract may relate to all claims or only to certain claims as specified in the contract. The contract may, for example, exclude claims relating to the conduct of a particular financial services licensee.
 (3) The following persons each have qualified privilege in respect of the publication of a statement that the contract does not apply with respect to claims relating to the conduct of a particular financial services licensee:
 (a) the SEGC and the members of its board;
 (b) any body corporate that is a member of the SEGC;
 (c) any subsidiary of such a member;
 (d) any employee of a body covered by paragraph (a), (b) or (c).
 (4) A person who has made a claim does not have a right of action against the insurer in respect of the contract or a right or claim in respect of money paid by the insurer in accordance with the contract.