Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:1:p139
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 1 (pt 139/148)
Character Range: 678819–681433

to, or caused directly or indirectly by, an act or omission of the person.

7.5.70  Making of claims
 (1) The SEGC may publish, in accordance with subregulation (1A), a notice, using Form 720, specifying a day, not being earlier than 3 months after the publication of the notice, on or before which claims against the SEGC may be made, being claims that, because of a dealer specified in the notice having become insolvent, this Subdivision entitles persons to make.
 (1A) The notice is published in accordance with this subregulation if it is published in a manner that results in the notice being accessible to the public and reasonably prominent.
 (2) If this Subdivision entitles a person to make a claim, the claim must be in writing and must be served on the SEGC:
 (a) if there has been published in accordance with subregulation (1) a notice specifying a day on or before which claims may be made, being claims that, because of the dealer having become insolvent on that day, this Subdivision entitles persons to make—on or before that day; or
 (b) in any other case—within 6 months after the person becomes aware of the dealer having become insolvent on that day.
 (3) A claim that is not made in accordance with subregulation (2) is barred unless the SEGC otherwise determines.
 (4) The SEGC, a member of the Board and any employee of, or person acting on behalf of, the SEGC each has qualified privilege in respect of the publication of a notice under subregulation (1).

Subdivision 4.10—General

7.5.72  Power of SEGC to allow and settle claim
 (1) The SEGC may, at any time after a person becomes entitled to make a claim, allow and settle the claim.
 (2) Subregulation (1) authorises the SEGC to partially allow a claim (including, for example, in a case where the SEGC considers that the claimant's conduct contributed to the loss).

7.5.72A  Participant‑related limits of compensation
 (1) If:
 (a) a claim made under this Division relates to a loss connected with a particular participant, or past participant, in a financial market; and
 (b) the participant or past participant becomes insolvent on a day before the claim is settled by the SEGC (whether or not the insolvency is the cause of the loss mentioned in paragraph (a));
the total amounts paid out of the Fund in connection with claims relating to losses connected with the participant or past participant must not exceed an amount equal to 15% of the minimum amount of the Fund as at the end of that day.
 (2) For the purposes of subregulation (1):
 (a) the SEGC must disregard an amount paid out of the Fund in connection with a claim