Commonwealth Repealed Acts

This legislation has been repealed.

CORPORATIONS LAW- SECT 1317H

Compensation for damage suffered

(1)

A Court may order a person to compensate a corporation or registered scheme for damage suffered by the corporation or scheme if:

(a)

the person has contravened a civil penalty provision in relation to the corporation or scheme; and

(b)

the damage resulted from the contravention.

The order must specify the amount of the compensation.

Damage includes profits

(2)

In determining the damage suffered by the corporation or scheme for the purposes of making a compensation order, include profits made by any person resulting from the contravention or the offence.

Damage includes diminution of value of scheme property

(3)

In determining the damage suffered by the scheme for the purposes of making a compensation order, include any diminution in the value of the property of the scheme.

(4)

If the responsible entity for a registered scheme is ordered to compensate the scheme, the responsible entity must transfer the amount of the compensation to scheme property. If anyone else is ordered to compensate the scheme, the responsible entity may recover the compensation on behalf of the scheme.

Recovery of damage

(5)

A compensation order may be enforced as if it were a judgment of the Court.