244Reduction of claim because of other benefits

244 Reduction of claim because of other benefits

244 Reduction of claim because of other benefits

(1) A person is not entitled to recover from the fidelity fund any amount equal to amounts or to the value of other benefits in connection with the default concerned—

(a) that have already been paid to or received by the person; or

(b) that have already been determined and are payable to or receivable by the person; or

(c) that (in the opinion of the fidelity authority) are likely to be paid to or received by the person; or

(d) that (in the opinion of the fidelity authority) might, but for neglect or failure on the person’s part, have been paid or payable to or received or receivable by the person—

from other sources in respect of the pecuniary loss to which a claim relates.

(2) The fidelity authority may, at its absolute discretion, pay to a person the whole or part of an amount referred to in subsection (1)(c) if satisfied that payment is warranted to alleviate hardship, but nothing in this subsection affects section 245.

(3) Without limiting subsection (1), but subject to sections 250 and 251, a person is not entitled to recover from the fidelity fund of this jurisdiction if the person has already recovered from the fidelity fund of another jurisdiction in connection with the default concerned.