THE CORPORATIONS LAW
PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW 82 The Corporations Law is as follows:...
CHAPTER 7 - SECURITIES
PART 7.9 - FIDELITY FUNDS
SECTION 911 POWER OF BOARD TO SETTLE CLAIMS 911(1) [Board may settle claim] Subject to this Part, a board may allow and settle a proper claim for compensation from a fidelity fund of a securities exchange at any time after the occurrence of the pecuniary loss in respect of which the claim arose. 911(2) [Proceedings against exchange without board's leave] Subject to subsection (3), a person shall not bring proceedings under this Part against a securities exchange without leave of the board unless: (a) the board has disallowed the claim; and (b) the claimant has exhausted all relevant rights of action and other legal remedies for the recovery of the money, securities, documents of title to securities or other property in respect of which the pecuniary loss occurred, being rights and remedies that are available against:(i) the member of the securities exchange in relation to whom the claim arose; and
(ii) all other persons who are liable in respect of the loss suffered by the claimant;other than any right or remedy that the claimant may have under section 908 or a corresponding previous law against another securities exchange.
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