Corporations Act 2001
Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .
View history note
Hide history noteCCH note - modifying legislative instruments: The application of Pt 7.8A is affected by the following legislative instruments that commenced or were amended on or after 1 January 2022: the ASIC Corporations (Card Facility Transfer) Instrument 2024/486.
The application of Pt 7.8A is also affected by Class Order 1 [frac412] 62: Relief for 31 Day Notice Term Deposits.
For other legislative instruments or class orders before 1 January 2022 that affect the application of Pt 7.8A, please consult the legislative instruments or class orders directly. These are reproduced in the regulatory-resources section of the company-law practice area in CCH iKnowConnect.
If: (a) a person (the first person ) contravenes section 994B , 994C or 994D or subsection 994E(1) or (3) ; and (b) another person (the client ) suffers loss or damage because of the contravention;
the client may recover the amount of the loss or damage by action against the first person, whether or not:
(c) the first person (or anyone else) has been convicted of an offence in relation to the contravention; or (d) a Court has made a declaration of contravention under subsection 1317E(1) in relation to the contravention; or (e) a Court has ordered the first person (or anyone else) to pay the Commonwealth a pecuniary penalty under section 1317G in relation to the contravention.994M(2)
An action under subsection (1) may be begun at any time within 6 years after the day on which the cause of action arose.
994M(3)
This section does not affect any liability that a person has under any other law.
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