THE CORPORATIONS LAW

CHAPTER 7 - SECURITIES

PART 7.10 - THE NATIONAL GUARANTEE FUND

Division 9 - General provisions relating to claims

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SECTION 979   POWER OF BOARD TO REQUIRE PRODUCTION OF SECURITIES ETC.  

979(1)  [Notice in writing]  

The Board may, by notice served on a person, require the person to give to SEGC specified securities, documents, or statements of evidence, necessary to support a claim or necessary for the purpose of:

(a)  exercising SEGC's rights against a member, or a member organisation, of a participating exchange or against any other person; or

(b)  enabling criminal proceedings to be taken against a person.

979(1A)  [Specified information relating to rights and exercise of set-off]  

The Board may, for the purposes of section 970A or 970B, by notice in writing served on a person, require the person to give SEGC specified information relating to the existence or exercise of rights of set-off.

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979(2)  [Failure to comply with requirement]  

Where a person fails, without reasonable excuse, to comply with a requirement under subsection (1) or (1A), SEGC may disallow a claim made by the person.

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