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CORPORATIONS ACT 2001

CHAPTER 6 - TAKEOVERS  

PART 6.10 - REVIEW AND INTERVENTION  

Division 3 - Court powers  

SECTION 659C  COURT PROCEEDINGS AFTER END OF BID PERIOD  

659C(1)  [Limitation on Court's powers]  


If:


(a) an application is made to the Panel for a declaration under section 657A that particular conduct amounts to, or leads to, circumstances that are unacceptable; and


(b) the Panel refuses to make the declaration; and


(c) a Court finds after the end of the bid period that the conduct contravenes this Act;

the Court's powers under this Act in relation to the conduct are limited to the following:


(d) the Court may:


(i) determine whether a person is guilty of an offence against this Act because they engaged in or were involved in the conduct; and

(ii) impose a penalty if the person is found guilty;


(e) the Court may:


(i) determine whether a person who engaged in, or was involved in, the conduct contravened a provision of this Act; and

(ii) order the person to pay an amount of money to another person (whether by way of damages, account of profits, pecuniary penalty or otherwise);


(f) the Court may make an order under section 1318 or 1322 in relation to the conduct.

This subsection does not confer power or jurisdiction on a court that it does not have apart from this subsection.

659C(2)  [Type of remedial order]  


Without limiting subsection (1), the only kind of remedial order that the Court may make is one that requires the person to pay money to another person.

 



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