Document ID: chunk:federal_register_of_legislation:C2004A03415:body:0:p38
Version: federal_register_of_legislation:C2004A03415
Segment Type: other
Provision Reference: 
Character Range: 94552–97249

brokerage fees and other charges, and any stamp duty and other duties and taxes, payable by the claimant in connection with the sale as has not already been paid by the claimant.

Claim by buying client in respect of default by buying dealer
"122m. (1) Where, as at the end of the prescribed period in relation to a reportable transaction that is a purchase by a dealer on behalf of a person:
     (a) the person has paid to the dealer the purchase price in relation to the purchase; and

     (b) the dealer's obligations to the person in respect of the purchase, in so far as they relate to settlement documents in relation to the purchase, have not been discharged;
the person may make a claim in respect of the purchase.
"(2) Where a person makes a claim in respect of a purchase of securities by a dealer on behalf of the claimant and, at a particular time, the Board is satisfied that, as at that time:
     (a) subsection (1) entitles the claimant to make the claim; and
     (b) the dealer's obligations to the claimant in respect of the purchase, in so far as they relate to settlement documents in relation to the purchase, have not been discharged;
the Corporation shall allow the claim and, subject to section 122n, supply to the claimant settlement documents in relation to the purchase.

Cash settlement of claim where settlement documents unobtainable
"122n. Where:
     (a) the Corporation:
        (i) allows under subsection 122k (2) a claim in respect of a purchase of securities by the claimant from a dealer; or
        (ii) allows under subsection 122m (2) a claim in respect of a purchase of securities by a dealer on behalf of the claimant;
     (b) it is not reasonably practicable for the Corporation to obtain from the dealer, before the end of:
        (i) if the business rules of a participating exchange of which the dealer is a member organisation, being those business rules as in force when the Board allows the claim, prescribe a period, for the purposes of this section, in relation to a class of claims that includes the claim—that period; or
        (ii) otherwise—such period as the Board, having regard to all the circumstances relating to the claim, considers reasonable;
    settlement documents in relation to the purchase; and
     (c) because:
        (i) whether by reason that dealing in those securities is suspended or for any other reason, there exists at no time during that period an orderly market in those securities; or
        (ii) the total number of those securities offered for sale on stock markets of participating exchanges or Exchange subsidiaries at times during that period when there exists an orderly market in those securities is