Commonwealth Numbered Acts Commonwealth Numbered Acts(1) A person who suffers loss or damage that results from a contravention of subsection 670A(1) may recover the amount of the loss or damage from a person referred to in the following table if the loss or damage is one that the table makes the person liable for. This is so even if the person did not commit, and was not involved in, the contravention.
| People liable on the document | [operative table] | |
|---|---|---|
| For these documents these people... | ...are liable for loss or damages caused by | |
| bidder's statement or takeover offer document | ||
| 1 | the bidder | any contravention of subsection 670A(1) in relation to the document |
| 2 | each director of a bidder that is a body if the consideration offered under the bid is not a cash sum only | any contravention of subsection 670A(1) in relation to the document |
| 3 | a director of a bidder that is a body unless the director proves that they: (a) were not present when the directors resolved to adopt the statement or offer document; or (b) voted against the resolution; if the consideration offered under the bid is a cash sum only | any contravention of subsection 670A(1) in relation to the document See also items 10 and 11. |
| notice of variation of a takeover offer | ||
| 4 | the bidder | any contravention of subsection 670A(1) in relation to the document |
| 5 | a director of a bidder that is a body | any contravention of subsection 670A(1) in relation to the document See also items 10 and 11. |
| a target's statement | ||
| 6 | the target | any contravention of subsection 670A(1) in relation to the document |
| 7 | a director of the target unless the director proves that they: (a) were not present when the directors resolved to adopt the statement; or (b) voted against the resolution | any contravention of subsection 670A(1) in relation to the document See also items 10 and 11. |
| a compulsory acquisition or compulsory buy-out notice | ||
| 8 | the person giving the notice | any contravention of subsection 670A(1) in relation to the document |
| 9 | a director of a body corporate giving the notice unless the director proves that they: (a) were not present when the directors resolved to give the notice; or (b) voted against the resolution | any contravention of subsection 670A(1) in relation to the document See also items 10 and 11. |
| 10 | all documents a person named in the document, with their consent, as having made a statement: (a) that is included in the document; or (b) on which a statement made in the document is based | the inclusion of the statement in the document |
| 11 | a person who contravenes, or is involved in a contravention of, subsection 670A(1) | that contravention |
(2) An action under subsection (1) may begin at any time within 6 years after the day on which the cause of action arose. (3) This Chapter does not affect any liability that a person has under any other law.