Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:1:p146
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 1 (pt 146/148)
Character Range: 695179–697890

or a part of that amount, remains unpaid throughout a period beginning immediately after the period mentioned in paragraph (a);
interest, in addition to that amount and that interest, is payable to the person, at the rate of 5% per annum, out of the Fund on that amount, or on that part of that amount, as the case may be, in respect of that period first mentioned in paragraph (b).

7.5.80  SEGC to notify claimant if claim disallowed
  The SEGC must, after wholly or partly disallowing a claim, serve on the claimant, or on the claimant's solicitor, notice of the disallowance using Form 721.

7.5.81  Arbitration of amount of cash settlement of certain claims
 (1) If:
 (a) a cash settlement provision requires the SEGC to pay an amount in respect of a claim; and
 (b) the amount cannot be determined by agreement between the SEGC and the claimant;
the amount must be determined by arbitration in accordance with this regulation.
 (2) If:
 (a) in relation to a claim, paragraph 7.5.77(3)(c), (5)(c) or (6)(c) requires the SEGC to work out the value of securities, or the number of securities that are equal in value to another value or amount; and
 (b) the value or number cannot be determined by agreement between the SEGC and the claimant;
the value or number is to be determined by arbitration in accordance with this regulation.
 (3) The reference to arbitration is a reference to persons appointed, in accordance with subregulation (4), for the purposes of the reference.
 (4) For the purposes of the reference to arbitration:
 (a) if the claim relates to a participating market licensee—the participating market licensee must make the appointment, or the participating market licensees must jointly make the appointment; and
 (aa) if the claim relates to the licensed CS facility operated by ACH—ACH must make the appointment; and
 (ab) if the claim relates to a participating market licensee and to the licensed CS facility operated by ACH—the participating market licensee and ACH must jointly make the appointment; and
 (b) 3 persons must be appointed; and
 (c) the Minister must have approved the appointment of each person in writing; and
 (d) at least 2 of the persons must not be any of the following:
 (i) if the claim relates to a participating market licensee:
 (A) a representative of the participating market licensee;
 (B) a participant of the participating market licensee;
 (C) a representative of a participant of the participating market licensee;
 (ii) if the claim relates to the licensed CS facility operated by ACH:
 (A) a representative of ACH;
 (B) a participant of the licensed CS facility;
 (C) a representative of a participant of the licensed CS facility;
 (iii) if the claim