Document ID: chunk:federal_register_of_legislation:C2004A03415:body:0:p48
Version: federal_register_of_legislation:C2004A03415
Segment Type: other
Provision Reference: 
Character Range: 118578–121329

so purchasing securities or for any other purpose connected with complying with that subsection.
"(2) Securities purchased by the Corporation as mentioned in subsection (1) form part of the Fund until they are supplied in accordance with this Part to a claimant or sold in accordance with subsection (3).
"(3) Where:
     (a) the Board:
        (i) makes in relation to a claim in respect of a purchase of securities a determination under section 122n; or
        (ii) makes in relation to a claim a determination under subsection 122s (1); and
     (b) the Corporation has, before making the determination, purchased securities for the purpose of:
        (i) supplying to the claimant settlement documents in relation to the purchase; or
        (ii) supplying under subsection 122r (3), in respect of the claim, securities or documents of title to securities;
as the case may be; the Corporation shall, as soon as practicable after making the determination, sell the securities so purchased and pay the proceeds of sale into the Fund.
"(4) In this section, 'claim' means a claim under Division 6 or 7.

Allowing of claim not to constitute admission
"122ye. Where the Corporation allows a claim, neither the allowing of the claim, nor any act done by the Corporation as a result of allowing the claim, shall be taken for any purpose to constitute an admission by any person of liability in respect of any matter, other than an admission by the Corporation of its liability in respect of the claim.

Corporation to notify claimant where claim disallowed
"122yf. The Corporation shall, after wholly or partly disallowing a claim, serve on the claimant, or on the claimant's solicitor, notice of the disallowance in the prescribed form.

Proceedings in the Court
"122yg. (1) Where the Corporation has disallowed a claim, the claimant may, within 3 months after notice of the disallowance has been served on the claimant, or on the claimant's solicitor, in accordance with section 122yf, commence proceedings in the Court to establish the claim.
"(2) Where, as at the end of a reasonable period after a claim was made, the Corporation has neither allowed nor disallowed the claim, the claimant may commence proceedings in the Court to establish the claim.

Arbitration of amount of cash settlement of certain claims
"122yh. (1) Where:
     (a) section 122n or subsection 122s (1) or (2) requires the Corporation to pay to a person the amount that was at a particular time the amount of the actual pecuniary loss suffered by the person in respect of a purchase of securities, or in respect of particular property, as the case may be; and
     (b) that amount cannot be determined by agreement between the Corporation and the person;
that amount shall be