Retirement Savings Accounts Act 1997

S 76 repealed by No 123 of 2001, s 3 and Sch 1 item 273, effective 11 March 2002. S 76 formerly read:

REGULATED DOCUMENTS NOT TO BE FALSE OR MISLEADING - CIVIL LIABILITY  
76(1)
An RSA provider must not issue, or authorise the issue of, a regulated document in relation to the RSA provider in which there is a material statement that is false or misleading.

76(2)
If:

(a) an RSA provider contravenes subsection (1); and

(b) a person suffers loss or damage because of the contravention;

the person may recover the amount of the loss or damage by action against the RSA provider.

76(3)
The action may be begun even if the RSA provider has been convicted of an offence in respect of the conduct constituting the contravention.

76(4)
The action must be begun within 6 years after the day on which the cause of action arose.

76(5)
It is a defence to the action if the RSA provider proves that, before the person suffered the loss or damage, the person knew that the statement was false or misleading.

76(6)
This section does not affect any liability under any other provision of this Act or under any other law.