VALUATION OF CLAIMS OF COVERED CLIENTS AND ITS NOTIFICATION PROCESS Sample Clauses

VALUATION OF CLAIMS OF COVERED CLIENTS AND ITS NOTIFICATION PROCESS. Upon completion of the valuation, the Funds • issues minutes listing the clients of the member of the Fund which are compensation beneficiaries along with the amount of money each one of them is entitled to receive, and, communicates it to CySEC and the member of the Fund within five working days from its issue; and • communicates to each a"ected client its finding no later than fifteen days from the issue of the minutes referred to above communicates to each a"ected client its finding no later than fifteen days from the issue of the minutes determining the total compensation amount this client is entitled to receive. CySEC, in order to ensure that the provisions of the legislation in force in the Republic are fulfilled during the examination of the applications and the calculation of the amount of the corresponding compensation per covered client, xxxx • Request from the Fund, the member of the Fund and the claimant to produce information and particulars • Conduct any investigation required, implementing the relevant provisions of CySEC (Establishment and Responsibilities) Laws of 2001 and 2002, as in force, and especially those provisions enacting the powers of the CySEC for entry and investigation. The claimant to whom the Fund communicates the total compensation amount to which it is entitled, in case it disagrees with the Fund’s decision, has the right within ten days from the communication of the decision, to appeal to CySEC, justifying sufficiently its alleged claim. The CySEC, in as long as it finds errors or inaccuracies as to the evaluation by the Fund of the applications for the payment of compensation and the fixing of the compensation for each claimant, taking into consideration any memos submitted to it by claimants, may demand from the Fund to correct the payable compensations with a decision communicated to the Fund within forty–five days from the communication to it of the minutes of the compensation bene- ficiaries.
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