Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 716

716. (1) A person who contravenes section 709, 710 or 711, whether or not the
person has been convicted of an offence in respect of the contravention, is
liable to pay, to any person who suffers loss or damage as a result of the
contravention, damages in respect of that loss or damage, unless it is proved
that the contravention was due to the inadvertence or mistake of the
first-mentioned person or to the first-mentioned person not being aware of a
relevant fact or occurrence.

(2) A person who contravenes section 715 is liable to pay, to any person who
suffers loss or damage as a result of the contravention, damages in respect of
that loss or damage.

(3) If 2 or more persons each contravene section 715 because of the same act
or omission, the liability of those persons under subsection (2) of this
section in respect of the contravention is joint and several.