Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:1:p137
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 1 (pt 137/148)
Character Range: 674059–676683

so, the SEGC must pay that amount to the claimant.
 (2) If:
 (a) the SEGC allows a claim that, because of a dealer having become insolvent, this Division entitles a person to make in respect of property that is, or includes, property (the relevant property) other than money, securities or documents of title to securities; and
 (b) it is not reasonably practicable for the SEGC to obtain the relevant property from the dealer or, if the dealer has disposed of it, from the dealer's successor in title, before the end of such period as the SEGC considers reasonable;
the SEGC may decide to pay to the claimant the amount that, when the decision is made, is the actual pecuniary loss suffered by the claimant in respect of the relevant property, and if the SEGC does so, the SEGC must pay that amount to the claimant.

7.5.66  Ordering of alternative claims and prevention of double recovery
 (1) Subregulation (2) applies if:
 (a) a participant has received under the agreement for a sale or purchase of securities by the participant on behalf of a person, the consideration for the sale or settlement documents in relation to the purchase, as the case may be; and
 (b) subregulation 7.5.24(1), 7.5.25(1), 7.5.26(1) or 7.5.27(1) entitles the person to make a claim against the SEGC under Subdivision 4.3 in respect of the sale or purchase.
 (2) This Subdivision does not, because of:
 (a) a dealer, being the participant or a partner in the participant, having become insolvent at a particular time; and
 (b) the participant having received, under the agreement, the consideration or the settlement documents;
entitle the person to make a claim in respect of the consideration or the settlement documents, as the case may be, unless the participant's obligations to the person in respect of the sale or purchase, as the case may be, in so far as those obligations related to the consideration or the settlement documents, were discharged before that time.
 (3) If:
 (a) because of a dealer having become insolvent on a particular day, this Subdivision entitles a person to make a claim (the first claim) in respect of property; and
 (b) because of a dealer having become insolvent on a later day, this Subdivision entitles a person to make another claim in respect of the property;
the SEGC must not allow the other claim unless:
 (c) the person has made the first claim and the SEGC has allowed or disallowed it; or
 (d) the SEGC is satisfied that if the first claim had been made the SEGC would have disallowed it; or
 (e) the SEGC is satisfied that, when the person first became aware of the dealer mentioned in paragraph