Document ID: chunk:federal_register_of_legislation:C2004A04777:front:0:p12
Version: federal_register_of_legislation:C2004A04777
Segment Type: other
Provision Reference: 
Character Range: 28879–31733

a claim; and

    (b) the Board is satisfied that the payment of money to the claimant under section 961F will not adequately compensate the claimant for a pecuniary or other gain that the claimant did not make, but might have made, were it not for the contravention in respect of which the claim was made;

the Board may determine in writing that the claimant should be paid in respect of that gain a specified amount that the Board considers to be fair and reasonable in all the circumstances.

"(2) If a determination is made under subsection (1), SEGC must pay the claimant the specified amount.

Preventing double recovery

  "961H. If:

     (a) section 961D of the Corporations Law of another jurisdiction permits a person to make a claim in respect of a loss; and

  (b) SEGC allows the claim;

SCHEDULE 2—continued

SEGC must not allow a claim that section 96ID of the Corporations Law of this jurisdiction permits the person to make in respect of that loss.".

20. Subsection 977(7) (definition of "cash settlement provision"):

  After "960" insert "or 961F".

21. After subsection 980(2):

  Insert:

"(2A) Where SEGC allows a claim made under Division 7A in respect of a contravention of the SCH certificate cancellation provisions, SEGC is subrogated to all the claimant's rights and remedies in relation to the contravention.".

22. Subsection 980(5):

  After "7" insert ", 7A".

23. Subsection 983(2) (definition of "claim"):

  After "7" insert ", 7A".

24. Subsection 983A(6) (definition of "claims Division"):

  After "7" insert ", 7A".

25. Section 1089:

  Add at the end:

  "(4) If:

    (a) a certificate of title to shares, debentures or prescribed interests is cancelled under the SCH certificate cancellation provisions; and

    (b) having regard to those provisions, the certificate should not have been cancelled;

this section applies to the certificate as though it were destroyed on its cancellation.".

26. Section 1097B:

    (a) Omit all the words from and including "purposes of", substitute "purposes of the provisions mentioned in subsection (3), those securities or rights are taken to be quoted securities or quoted rights during that period.".

  (b) Add at the end:

    "(2) If the SCH business rules provide that marketable securities or marketable rights that:

SCHEDULE 2—continued

        (a) are approved, by a securities exchange, to be listed for quotation on a stock market of a securities exchange, but that are not yet so listed; and

      (b) have been issued;

     are to be taken to be quoted securities or quoted rights for a specified period, then, for the purposes of the provisions mentioned in subsection (3), those securities or rights are taken to be quoted securities or quoted rights during that period.

      "(3) These are the provisions:

        (a) the definitions of 'proper