Corporations Act 2001
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Hide history noteCompensation for damage suffered
1317HC(1)
A Court may order a person (the liable person ) to compensate another person (including a corporation), or a registered scheme, for damage suffered by the person or scheme if:
(a) the liable person has contravened subsection 908CF(1) (complying with rules about financial benchmarks); and
(b) the damage resulted from the contravention.
The order must specify the amount of compensation.
Note: An order may be made under this subsection whether or not a declaration of contravention has been made under section 1317E .
Damage includes profits
1317HC(2)
In determining the damage suffered by a person or scheme for the purposes of making a compensation order, include profits made by any person resulting from the contravention.
Damage to scheme includes diminution of value of scheme property
1317HC(3)
In determining the damage suffered by a registered scheme for the purposes of making a compensation order, include any diminution in the value of the property of the scheme.
Recovery of damage
1317HC(4)
A compensation order may be enforced as if it were a judgment of the Court.
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