Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 1009

1009. (1) In this section, "expert", in relation to a prospectus in relation
to securities of a corporation, includes:

   (a)  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; and

   (b)  a person named, with the consent of the person, in the prospectus as
        having performed or performing any professional or advisory capacity
        (other than a capacity mentioned in paragraph (a) or the capacity of a
        stockbroker, sharebroker or underwriter) for the corporation or for or
        in relation to the issue or proposed issue of securities.

(2) A person referred to in paragraph 1006 (2) (e), (f), (g) or (h) is liable
in an action under section 1005 only in respect of:

   (a)  a false or misleading statement in the prospectus purporting to be
        made by the person as an expert; or

   (b)  an omission from the prospectus of any material matter for which the
        person is responsible in the person's capacity or purported capacity
        as an expert.

(3) A person referred to in paragraph 1006 (2) (e) is not liable in an action
under section 1005 in respect of a false or misleading statement if it is
proved:

   (a)  that, having given consent under section 1032 to the issue of the
        prospectus, the person withdrew it in writing before the prospectus
        was lodged;

   (b)  that, after the prospectus was lodged and before any allotment, issue
        or sale under the prospectus, the person, on becoming aware of the
        false or misleading statement, withdrew the person's consent in
        writing and gave reasonable public notice of the withdrawal and of the
        reasons for the withdrawal; or

   (c)  that the person was competent to make the statement and, after making
        such inquiries (if any) as were reasonable, had reasonable grounds to
        believe, and did until the time of the allotment, issue or sale of the
        securities believe, that the statement was true and not misleading.