THE CORPORATIONS LAW

CHAPTER 7 - SECURITIES

PART 7.9 - FIDELITY FUNDS

SECTION 914   SUBROGATION OF SECURITIES EXCHANGE TO RIGHTS ETC OF CLAIMANT ON PAYMENT FROM FUND  

914    On payment out of a fidelity fund of a securities exchange of any money in respect of a claim under this Part, the securities exchange is subrogated to the extent of that payment to all the rights and remedies of the claimant in relation to the loss suffered by the claimant from the defalcation or fraudulent misuse of property.

 

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