Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .

PART 7.10 - MARKET MISCONDUCT AND OTHER PROHIBITED CONDUCT RELATING TO FINANCIAL PRODUCTS AND FINANCIAL SERVICES  

Division 2A - Proportionate liability for misleading and deceptive conduct  

SECTION 1041M   CERTAIN CONCURRENT WRONGDOERS NOT TO HAVE BENEFIT OF APPORTIONMENT  

1041M(1)   [ Intended or fraudulently caused loss]  

Nothing in this Division operates to exclude the liability of a concurrent wrongdoer (an excluded concurrent wrongdoer ) in proceedings involving an apportionable claim if:

(a) the concurrent wrongdoer intended to cause the economic loss or damage to property that is the subject of the claim; or

(b) the concurrent wrongdoer fraudulently caused the economic loss or damage to property that is the subject of the claim.

1041M(2)   [ Liability of excluded concurrent wrongdoer]  

The liability of an excluded concurrent wrongdoer is to be determined in accordance with the legal rules (if any) that (apart from this Division) are relevant.

1041M(3)   [ Liability of concurrent wrongdoer]  

The liability of any other concurrent wrongdoer who is not an excluded concurrent wrongdoer is to be determined in accordance with the provisions of this Division.