Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 726

726. (1) A person who contravenes section 722 or 723 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 724 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 722, 723 or 724 because of
the same act or omission, the liability of those persons under this section in
respect of the contravention is joint and several.