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CORPORATIONS ACT 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS    View history reference

PART 7.8 - OTHER PROVISIONS RELATING TO CONDUCT ETC. CONNECTED WITH FINANCIAL PRODUCTS AND FINANCIAL SERVICES, OTHER THAN FINANCIAL PRODUCT DISCLOSURE    View history reference

Division 7 - Other rules about conduct    View history reference

SECTION 991A  FINANCIAL SERVICES LICENSEE NOT TO ENGAGE IN UNCONSCIONABLE CONDUCT  

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991A(1)  [Unconscionable conduct]  


A financial services licensee must not, in or in relation to the provision of a financial service, engage in conduct that is, in all the circumstances, unconscionable.

991A(2)  [Recovery action]  


If a person suffers loss or damage because a financial services licensee contravenes subsection (1), the person may recover the amount of the loss or damage by action against the licensee.

991A(3)  [When action may commence]  


An action under subsection (2) may be begun at any time within 6 years after the day on which the cause of action arose.

991A(4)  [Liability under other law]  


This section does not affect any liability that a person has under any other law.


 



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