Document ID: chunk:federal_register_of_legislation:C2004A04777:front:0:p10
Version: federal_register_of_legislation:C2004A04777
Segment Type: other
Provision Reference: 
Character Range: 23919–26702

the provisions of the SCH business rules as in force for the time being to the extent, and in the manner, provided by the SCH business rules.

SCHEDULE 2—continued

  "(2) In this section:

'issuer' means an issuing body, within the meaning of Division 3 of Part 7.13, in relation to quoted securities or quoted rights.".

15. Subsection 920(1) (definition of "claim"):

  After "7" insert ", 7A".

16. Subsection 927(2):

  After "959(3)" insert ", 961E(3)".

17. Subsection 932(2):

  After "7" insert ",7A".

18. Paragraph 932(3)(a):

  Omit "or 7", substitute ", 7 or 7A".

19. After section 961B:

  Insert:

"Division 7A—Contraventions of SCH certificate cancellation provisions

Interpretation

  "961C. In this Division:

'claim' means a claim under this Division against SEGC;

'dealer' means a member of a participating exchange.

Claim in respect of contravention of SCH certificate cancellation provisions

"961D.(1) Subject to this section, a person who suffers pecuniary loss in respect of a contravention, by a dealer, of the SCH certificate cancellation provisions may make a claim in respect of the loss.

"(2) The loss must not be a loss in respect of an unauthorised execution (within the meaning of section 956) in respect of which the person has made, or is entitled to make, a claim under Division 7.

  "(3) The person must not have been involved in the contravention.

  "(4) The following paragraphs must be satisfied in relation to the dealer:

     (a) the dealer was a member of a participating exchange on the day of the contravention; and

SCHEDULE 2—continued

  (b) either:

        (i) the dealer was carrying on a securities business in this jurisdiction on that day (whether on his, her or its own account or in partnership); or

        (ii) if the dealer was not so carrying on such a business and was not carrying on a securities business in any other jurisdiction on that day—the last securities business that the dealer carried on in a jurisdiction before that day was carried on in this jurisdiction.

How and when claim may be made

  "961E.(1) A claim must:

  (a) be in writing; and

  (b) be served on SEGC:

        (i) if a notice under subsection (4) applies to the claim—before the end of the last application day specified in the notice; or

        (ii) in any other case—within 6 months after the day on which the claimant first became aware that the claimant had suffered loss as a result of the dealer's contravention of the SCH certificate cancellation provisions.

"(2) For the purposes of subsection (1), a notice under subsection (4) applies to a claim if the claim is in respect of a contravention of the SCH certificate cancellation provisions, by the dealer named in the notice, during the applicable period specified in