THE CORPORATIONS LAW

CHAPTER 7 - SECURITIES

PART 7.11 - CONDUCT IN RELATION TO SECURITIES

Division 4 - Civil liability

Subdivision A - General

SECTION 1005   CIVIL LIABILITY FOR CONTRAVENTION OF THIS PART  

1005(1)  (Civil liability for contravention)  

Subject to the following sections of this Division, a person who suffers loss or damage by conduct of another person that was engaged in contravention of a provision of this Part may recover the amount of the loss or damage by action against that other person or against any person involved in the contravention, whether or not that other person or any person involved in the contravention has been convicted of an offence in respect of the contravention.

1005(2)  (Time limit on action)  

An action under subsection (1) or under subsection 1013(5) may be begun at any time within 6 years after the day on which the cause of action arose.

1005(3)  (Liability under other laws)  

This Division does not affect any liability that a person has under any other law.

1005(4)  (Defence)  

In a proceeding under this Part in relation to a contravention of this Part committed by the publication of an advertisement, it is a defence if it is proved that the defendant is a person whose business it is to publish or arrange for the publication of advertisements and that the person received the advertisement for publication in the ordinary course of business and did not know and had no reason to suspect that its publication would amount to a contravention of a provision of this Part.