Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:1:p138
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 1 (pt 138/148)
Character Range: 676469–679052

it; or
 (d) the SEGC is satisfied that if the first claim had been made the SEGC would have disallowed it; or
 (e) the SEGC is satisfied that, when the person first became aware of the dealer mentioned in paragraph (b) having become insolvent on the later day:
 (i) the first claim was barred; or
 (ii) it was no longer reasonably practicable for the person to make the first claim before it became barred.
 (4) If:
 (a) at a particular time, the SEGC allows a claim in respect of property; and
 (b) because of:
 (i) a dealer having become insolvent (whether before, at or after that time); and
 (ii) the property having, before that time, been entrusted or received as mentioned in paragraph 7.5.64(1)(b);
  this Subdivision entitles the claimant to make another claim in respect of the property;
the SEGC must not allow the other claim.

7.5.67  No claim in respect of money lent to dealer
  If, at the time when a dealer becomes insolvent:
 (a) a person has lent money to the dealer; and
 (b) the liability of the dealer to repay the money remains undischarged;
this Subdivision does not, because of the dealer having become insolvent at that time, entitle the person to make a claim in respect of the money.

7.5.68  Nexus with Australia
  This Subdivision does not, because of a person (the dealer) having become insolvent at a particular time, entitle a person to make a claim in respect of property unless:
 (a) the dealer was at that time a participant of at least 1 of the following:
 (i) a participating market licensee;
 (ii) the licensed CS facility operated by ACH; and
 (b) either:
 (i) the dealer was carrying on a securities business in Australia at that time; or
 (ii) the last business that the dealer carried on in Australia before that time was a securities business, and the person's claim relates to that business as it was carried on in Australia.

7.5.69  No claim in certain other cases
  This Subdivision does not, because of a dealer having become insolvent on a particular day, entitle a person to make a claim in respect of property if:
 (a) before that day the property had, in due course of the administration of a trust, ceased to be under the sole control of the dealer; or
 (b) the SEGC, or the Court, is satisfied that circumstances that materially contributed to the dealer becoming insolvent on that day were due 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