THE CORPORATIONS LAW

CCH Note: Part 13 of the Corporations Act 1989, inserted by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as follows:

PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW 82
The Corporations Law is as follows:...

CHAPTER 7 - SECURITIES

PART 7.11 - CONDUCT IN RELATION TO SECURITIES

CCH Note: Div 1 of Part 7.11 (sec 994) repealed by No 156 of 1999, Sch 3, Pt 1 (effective 13 March 2000).

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

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

View history note

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.

CCH Note: Div 5 of Part 7.11 (sec 1015A) repealed by No 44 of 1999, Sch 3, Pt 2 (effective 1 July 1999).

CCH Note: Part 7.12 (sec 1016-1084) repealed by No 156 of 1999, Sch 3, Pt 1 (effective 13 March 2000).

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