Western Australian Current Acts Western Australian Current Acts (1) A person who
suffers loss or damage because of a contravention of section 140A(1) or (2) in
relation to a co-operative may recover the amount of the loss or damage from a
person referred to in a paragraph of subsection (2) if the loss or damage is
one that the paragraph makes the person liable for, even if the person did not
commit, and was not involved in, the contravention.
(2) For the purposes
of subsection (1) —
(a) the
co-operative is liable for loss or damage caused by any contravention of
section 140A(1) or (2) in relation to the disclosure statement; and
(b) each
director of the co-operative is liable for loss or damage caused by any
contravention of section 140A(1) or (2) in relation to the disclosure
statement; and
(c) a
person named in the disclosure statement with their consent as having made a
statement (see section 487) —
(i)
that is included in the disclosure statement; or
(ii)
on which a statement in the disclosure statement is
based,
is liable for loss or
damage caused by the inclusion of the statement in the disclosure statement;
and
(d) a
person who is involved in the contravention of section 140A(1) or (2) is
liable for loss or damage caused by that contravention.
(3) Any action under
subsection (1) may begin at any time within 6 years after the day on which the
cause of the action arose.
(4) This Division does
not affect any liability that a person has under any other written law.
[Section 140B inserted: No. 7 of 2016 s. 39.]