Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 1006

1006. (1) This section applies for the purposes of an action under section 
1005 in respect of conduct being the issue of a prospectus in relation to
securities of a corporation in which there is a false or misleading statement
or from which there is an omission.

(2) Subject to this section, the action may be brought against all or any of
the following persons:

   (a)  the corporation;

   (b)  a person who was a director of the corporation at the time of the
        issue of the prospectus;

   (c)  a person who authorised or caused himself or herself to be named, and
        is named, in the prospectus as a director or as having agreed to
        become a director either immediately or after an interval of time;

   (d)  a promoter of the corporation;

   (e)  if the prospectus includes a statement purporting to be made by an
        expert or to be based on a statement made by an expert-that expert;

   (f)  a person named, with the consent of the person, in the prospectus as a
        stockbroker, sharebroker or underwriter of the corporation or for or
        in relation to the issue or proposed issue of securities;

   (g)  a person named, with the consent of the person, in the prospectus as
        an auditor, banker or solicitor of the corporation or for or in
        relation to the issue or proposed issue of securities;

   (h)  a person named, with the consent of the person, in the prospectus as
        having performed or performing any function in a professional,
        advisory or other capacity not mentioned in paragraph (e), (f) or (g)
        for the corporation or for or in relation to the issue or proposed
        issue of securities;

   (j)  any person who authorised or caused the issue of the prospectus.

(3) For the purposes of paragraph (2) (j), a person who is named in the
prospectus as:

   (a)  a trustee for holders of debentures of the corporation; or

   (b)  a trustee for, or representative of, holders of prescribed interests
        made available by the corporation; shall not, for that reason alone,
        be taken to have authorised or caused the issue of the prospectus.