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 7.8 - OTHER PROVISIONS RELATING TO CONDUCT ETC. CONNECTED WITH FINANCIAL PRODUCTS AND FINANCIAL SERVICES, OTHER THAN FINANCIAL PRODUCT DISCLOSURE  

Division 7 - Other rules about conduct  

SECTION 991A   FINANCIAL SERVICES LICENSEE NOT TO ENGAGE IN UNCONSCIONABLE CONDUCT  

991A(1)    
A financial services licensee must not, in or in relation to the provision of a financial service, engage in conduct that is, in all the circumstances, unconscionable.

991A(2)    
If a person suffers loss or damage because a financial services licensee contravenes subsection (1), the person may recover the amount of the loss or damage by action against the licensee.

991A(3)    
An action under subsection (2) may be begun at any time within 6 years after the day on which the cause of action arose.

991A(4)    
This section does not affect any liability that a person has under any other law.