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CORPORATIONS ACT 2001

CHAPTER 6C - INFORMATION ABOUT OWNERSHIP OF LISTED COMPANIES AND MANAGED INVESTMENT SCHEMES  

PART 6C.1 - SUBSTANTIAL HOLDING INFORMATION  

SECTION 671C  CIVIL LIABILITY  

671C(1)  [Liability for compensation]  


A person who contravenes section 671B is liable to compensate a person for any loss or damage the person suffers because of the contravention.

671C(2)  [Defence]  


It is a defence in proceedings brought under this section if the person who contravenes section 671B proves that they contravened that section:


(a) because of inadvertence or mistake; or


(b) because they were not aware of a relevant fact or occurrence.

In determining whether the defence is available, disregard the person's ignorance of, or a mistake on the person's part concerning, a matter of law.

671C(3)  [Joint and individual liability]  


If 2 or more persons each contravene section 671B because of the same act or omission, their liability under this section for the contravention is joint and individual.

 



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