ASX Supplemental Compensation Fund

Generally a claim for compensation from the Fund must be made within 6 months after the claimant became aware of the relevant loss. However ASX may, by publishing a notice in a daily newspaper circulating generally in each State and Territory, set a different time limit for claims which relate to a specific person, firm, circumstance or set of circumstances referred to in that notice. This time limit will be at least 3 months after the date of publication of the notice. 

Claims not made within those time limits are barred unless ASX or the Claims Review Panel otherwise determines.

While the length of time that will be required to process and determine a claim will depend on the particular circumstances of a particular case and the adequacy of the information provided in support of the claim, ASX's current intention is that a claim would be determined within 6 months of a valid notification of the claim to ASX.

1. Claims in respect of the fraudulent misuse or defalcation of money or property by a single Market Participant will be limited to $1,000,000;

2. Any series of Claims arising out of the same set of circumstances will be limited to $1,000,000;

3. the maximum amount payable to any one claimant arising out of a single set of circumstances will be limited to $100,000. In this regard a Claim will be considered to arise out of the same circumstances if it arises out of property having been given or entrusted to a single Market Participant.; and

4. Claims will be pro-rata where the Fund is insufficient to meet all claims.

At this stage, of the products which are currently traded on ASX's market, potential claims under the Compensation Arrangement will only arise in respect of money or property entrusted to a Market Participant in respect of actual or proposed dealings in futures.

All Claims to be sent to the Secretary of the Claims Review Panel

Secretary, Claims Review Panel
ASX Limited
PO Box H224,
Australia Square,
NSW 1215

Attention: Company Secretary

The Claims Review Panel must consider claims notified in a reasonable time having regard to the information provided in support of the claim and the circumstances of the claim.