THE CORPORATIONS LAW

CHAPTER 8 - THE FUTURES INDUSTRY

PART 8.6 - FIDELITY FUNDS

SECTION 1242   NOTICE CALLING FOR CLAIMS AGAINST FUND  

1242(1)  [Publication of notice in newspaper]  

A futures organisation may cause to be published in a daily newspaper circulating generally in each State and Territory, a notice in the prescribed form specifying a date, not being earlier than 3 months after the publication of the notice, on or before which claims for compensation from the fidelity fund, in relation to the person specified in the notice, may be made.

1242(2)  [Time limits for claim]  

A claim for compensation from a fidelity fund of a futures organisation in respect of a pecuniary loss shall be made in writing to the futures organisation:

(a)  where a notice under subsection (1) has been published, on or before the date specified in the notice; or

(b)  where no such notice has been published, within 6 months after the claimant became aware of the pecuniary loss;

and a claim that is not so made is barred unless the futures organisation otherwise determines.

1242(3)  [Qualified privilege in respect of publication]  

A futures organisation, a member of a board of a futures organisation, or a member or employee of a futures organisation, has qualified privilege in respect of the publication of a notice under subsection (1).

1242(4)  [Notice published before commencement of Part]  

A notice duly published by a futures organisation, before the commencement of this Part, under a previous law corresponding to subsection (1) shall be deemed to have been duly published under that subsection.