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CORPORATIONS ACT 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS    View history reference

PART 7.10 - MARKET MISCONDUCT AND OTHER PROHIBITED CONDUCT RELATING TO FINANCIAL PRODUCTS AND FINANCIAL SERVICES    View history reference

Division 2A - Proportionate liability for misleading and deceptive conduct  

SECTION 1041M  CERTAIN CONCURRENT WRONGDOERS NOT TO HAVE BENEFIT OF APPORTIONMENT  

1041M(1)  [Intended or fraudulently caused loss]  


Nothing in this Division operates to exclude the liability of a concurrent wrongdoer (an excluded concurrent wrongdoer) in proceedings involving an apportionable claim if:


(a) the concurrent wrongdoer intended to cause the economic loss or damage to property that is the subject of the claim; or


(b) the concurrent wrongdoer fraudulently caused the economic loss or damage to property that is the subject of the claim.

1041M(2)  [Liability of excluded concurrent wrongdoer]  


The liability of an excluded concurrent wrongdoer is to be determined in accordance with the legal rules (if any) that (apart from this Division) are relevant.

1041M(3)  [Liability of concurrent wrongdoer]  


The liability of any other concurrent wrongdoer who is not an excluded concurrent wrongdoer is to be determined in accordance with the provisions of this Division.


 



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