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CORPORATIONS ACT 2001 - SECT 994M

Civil liability

  (1)   If:

  (a)   a person (the first person ) contravenes section   994B, 994C or 994D or subsection   994E(1) or (3); and

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

the client may recover the amount of the loss or damage by action against the first person, whether or not:

  (c)   the first person (or anyone else) has been convicted of an offence in relation to the contravention; or

  (d)   a Court has made a declaration of contravention under subsection   1317E(1) in relation to the contravention; or

  (e)   a Court has ordered the first person (or anyone else) to pay the Commonwealth a pecuniary penalty under section   1317G in relation to the contravention.

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

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


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