CORPORATIONS ACT 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.7B - RECOVERING PROPERTY OR COMPENSATION FOR THE BENEFIT OF CREDITORS OF INSOLVENT COMPANY  

Division 4 - Director liable to compensate company  

Subdivision A - Proceedings against director  

SECTION 588N   588N   AVOIDING DOUBLE RECOVERY  
An amount recovered in proceedings under section 588M in relation to the incurring of a debt by a company is to be taken into account in working out the amount (if any) recoverable in:


(a) any other proceedings under that section in relation to the incurring of the debt; and


(b) proceedings under section 596ACA in relation to a contravention of subsection 596AC(1) , (2) , (3) or (4) that is linked to the incurring of the debt.


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