THE CORPORATIONS LAW

CHAPTER 7 - SECURITIES

PART 7.11 - CONDUCT IN RELATION TO SECURITIES

Division 4 - Civil liability

Subdivision C - Liability in respect of unlawful market activity

SECTION 1015   AMOUNT RECOVERABLE  

1015(1)  [Amount recoverable]  

The amount that a person may recover by action against another person in the circumstances mentioned in section 1013 or 1014 is:

(a)  if the second-mentioned person has been found by a court to be liable, or has been ordered by a court, to pay an amount or amounts to any other person or persons under this Part or under Part 9.4B or under a corresponding previous law because of the same act or transaction - the amount of the loss suffered by the first-mentioned person or the amount of the profit referred to in paragraph 1013(1)(d), as the case may be, less the amount or the sum of the amounts that the second-mentioned person has been so found to be liable, or has been so ordered, to pay; or

(b)  otherwise - the amount of that loss or profit.

1015(2)  [Onus on person liable]  

For the purposes of subsection (1), the onus of proving that the liability of a person to pay an amount to another person arose from the same act or transaction from which another liability arose lies on the person liable to pay the amount.