CCH Note:
Part 13 of the
Corporations Act 1989, inserted
by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as
follows:
PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW
82
The Corporations Law is as follows:...
CHAPTER 7 - SECURITIES
PART 7.10 - THE NATIONAL GUARANTEE FUND
Division 8 - Claims in respect of insolvent members
SECTION 966A
NO CLAIM UNLESS NEXUS BETWEEN DEALER AND THIS JURISDICTION
966A
This Division does not, because of a person (in this section called the
``dealer''
) having become insolvent on a particular day, entitle a person to make a claim in respect of property unless the dealer was on that day a member of a participating exchange and:
(a)
the dealer was carrying on a securities business in this jurisdiction on that day (whether on his, her or its own account or in partnership); or
(b)
if the dealer was not so carrying on such a business and was not carrying on a securities business in any other jurisdiction on that day - the last securities business that the dealer carried on in a jurisdiction (whether on his, her or its own account or in partnership) before that day was carried on in this jurisdiction.
History
S 966A amended by No 201 of 1991, Sch 1 (effective 1 January 1991).
S 966A inserted by No 110 of 1990, Sch 1 (effective 18 December 1990).
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