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 5D - LICENSED TRUSTEE COMPANIES    View history reference

PART 5D.7 - CONTRAVENTIONS AND HOLDING OUT    View history reference

SECTION 601XAA  CIVIL LIABILITY OF LICENSED TRUSTEE COMPANIES  

 View history reference

601XAA(1)  [Person may recover loss or damage]  


A person who suffers loss or damage because of conduct of a licensed trustee company that contravenes a provision of this Chapter may recover the amount of the loss or damage by action against the trustee company, whether or not the trustee company has been convicted of an offence, or has had a civil penalty order made against it, in respect of the contravention.

601XAA(2)  [Fees in excess of permitted amount]  


Without limiting subsection (1), if:


(a) a licensed trustee company charges a person a fee in excess of fees permitted to be charged by this Chapter; and


(b) the person pays the fee;

the amount of the excess is a loss that is recoverable by the person under subsection (1).

601XAA(3)  [Limitation of action]  


An action under subsection (1) must be begun within 6 years after the cause of action arises.

601XAA(4)  [Other liability provisions not affected]  


This section does not affect any liability that a person has under other provisions of this Act or under other laws.


 



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