Document ID: chunk:federal_register_of_legislation:C2004A03415:body:0:p49
Version: federal_register_of_legislation:C2004A03415
Segment Type: other
Provision Reference: 
Character Range: 121098–123850

by the person in respect of a purchase of securities, or in respect of particular property, as the case may be; and
     (b) that amount cannot be determined by agreement between the Corporation and the person;
that amount shall be determined by arbitration in accordance with this section.
"(2) The reference to arbitration shall be made to persons appointed, in accordance with subsection (3), for the purposes of the reference and the law in force in the Territory relating to arbitration applies in relation to the reference.
"(3) The participating exchange shall appoint, or the participating exchanges shall jointly appoint, as the case requires, for the purposes of the reference to arbitration, 3 persons whose appointment under this subsection has been approved in writing by the Ministerial Council and at least 2 of whom are neither members of a participating exchange nor officers or employees of the Corporation, of a participating exchange, or of a member organisation of a participating exchange.

Form of order of Court establishing claim
"122yj. (1) Where, in a proceeding to establish a claim, the Court is satisfied that the claim should be allowed, the Court:
     (a) shall, by order, make a declaration accordingly and direct the Corporation to allow the claim and deal with it in accordance with this Act; and
     (b) may, at any time after making the order, give, upon application made by the claimant or the Corporation, such directions relating to the claim as the Court thinks fit.
"(2) In a proceeding to establish a claim, or in an application under paragraph (1) (b), all questions of costs are in the discretion of the Court.

Power of Board to require production of securities etc.
"122yk. (1) The Board may, by notice in writing served on a person, require the person to furnish to the Corporation specified securities, documents, or statements of evidence, necessary to support a claim or necessary for the purpose of:
     (a) exercising the Corporation's rights against a member, or a member organisation, of a participating exchange or against any other person; or
     (b) enabling criminal proceedings to be taken against a person.

"(2) Where a person fails, without reasonable excuse, to comply with a requirement under subsection (1), the Corporation may disallow a claim made by the person.

Subrogation of Corporation to claimant's rights etc.
"122za. (1) Where the Corporation:
     (a) allows under subsection 122j (2) or 122l (2) a claim made under Division 6 in respect of a sale of securities; or
     (b) allows under subsection 122k (2) or 122m (2) a claim made under Division 6 in respect of a purchase of securities;
the Corporation shall be deemed to be subrogated to all the claimant's rights and