Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .

PART 7.5 - COMPENSATION REGIMES FOR FINANCIAL MARKETS  

Division 5 - Provisions common to both kinds of compensation arrangements  

SECTION 892F   PART 7.5 AUTHORITY ' S RIGHT OF SUBROGATION IF COMPENSATION IS PAID  

892F(1)    

If compensation in respect of a claim is paid under Division 3 arrangements or Division 4 arrangements, the Part 7.5 authority in relation to the arrangements is subrogated, to the extent of that payment, to all the claimant's rights and remedies in relation to the loss to which the claim relates.

892F(2)    

The Part 7.5 authority may also recover from the participant or participants who caused the loss the costs it incurred in determining the claim.