Document ID: chunk:federal_register_of_legislation:C2004A03415:body:0:p42
Version: federal_register_of_legislation:C2004A03415
Segment Type: other
Provision Reference: 
Character Range: 104312–106985

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; and
(c) because:
        (i) whether by reason that dealing in securities of that kind is suspended or for any other reason, there exists at no time during that period an orderly market in such securities; or
        (ii) the total number of securities of that kind offered for sale on stock markets of participating exchanges or Exchange subsidiaries at times during that period when there exists an orderly market in such securities is insufficient;
    it is not reasonably practicable for the Corporation to obtain that number of securities of that kind, or documents of title to that number of securities of that kind, as the case may be, before the end of that period;
the Board may determine to pay to the claimant the amount that, as at the time when the determination is made, is the amount of the actual pecuniary loss suffered by the claimant in respect of the first-mentioned securities, or the first-mentioned documents of title, as the case may be, and if the Board does so, the Corporation shall pay that amount to the claimant.
"(2) Where:
     (a) the Board allows a claim that, by reason of a dealer having become insolvent, this Division entitles a person to make in respect of property that is, or includes, property (in this subsection referred to as the 'relevant property') other than money, securities or documents of title to securities; and
     (b) it is not reasonably practicable for the Corporation 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 Board considers reasonable;
the Board may determine to pay to the claimant the amount that, as at the time when the determination is made, is the amount of the actual pecuniary loss suffered by the claimant in respect of the relevant property, and if the Board does so, the Corporation shall pay that amount to the claimant.

Ordering of alternative claims and prevention of double recovery
"122t. (1) Where:
     (a) a member organisation has received, pursuant to the agreement for a sale or purchase of securities by the member organisation 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) subsection 122l (1) or 122m (1), as the case may be, entitles the person to make a claim against the Corporation under Division 6 in respect of the sale or purchase;
subsection (2) has effect.

"(2) This Division does not, by