A T O home
Legal Database
Search   
for 
 
Access the database 
Browse database
Searches  
View last document
Quick access 
View legislation
View a document
Email Cross Reference Material Previous/Next Section Contents Previous/Next Result
Printable version
Printable
version

CORPORATIONS ACT 2001

CHAPTER 9 - MISCELLANEOUS  

PART 9.4B - CIVIL CONSEQUENCES OF CONTRAVENING CIVIL PENALTY PROVISIONS  

SECTION 1317HB  COMPENSATION ORDERS - MARKET INTEGRITY RULES  

 View history reference

[CCH Note: S 1317HB heading will be substituted by No 25 of 2017, s 3, Sch 5[25] (effective 4 April 2018). The heading will read:

SECTION 1317HB COMPENSATION ORDERS - MARKET INTEGRITY RULES AND CLIENT MONEY REPORTING RULES

]

1317HB(1)  Compensation for damage suffered.  


A Court may order a person (the liable person) to compensate another person (including a corporation), or a registered scheme, for damage suffered by the person or scheme if:


(a) the liable person has contravened subsection 798H(1) (complying with market integrity rules); and
 View history reference


(b) the damage resulted from the contravention.

The order must specify the amount of compensation.

Note: An order may be made under this subsection whether or not a declaration of contravention has been made under section 1317E.

[CCH Note: S 1317HB(1) will be amended by No 25 of 2017, s 3, Sch 5[26], by inserting "or 981M(1) (complying with client money reporting rules)" after "subsection 798H(1) (complying with market integrity rules)" (effective 4 April 2018).]

1317HB(2)  

Subsection (1) does not apply in relation to a contravention by the operator of a licensed market acting in that capacity.

1317HB(3)  Damage includes profits.  


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

1317HB(4)  Damage to scheme includes diminution of value of scheme property.  


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

1317HB(5)  Recovery of damage.  


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


 



This information is provided by CCH Australia Limited. View the disclaimer and notice of copyright.
Top of page
More information on page