THE CORPORATIONS LAW

CHAPTER 8 - THE FUTURES INDUSTRY

PART 8.3 - PARTICIPANTS IN THE FUTURES INDUSTRY

Division 4 - Liability of principals for representatives' conduct

SECTION 1184   LIABILITY WHERE IDENTITY OF PRINCIPAL UNKNOWN  

View history reference

1184(1)  [Application]  

This section applies for the purposes of a proceeding in a court where:

(a)  in this jurisdiction or elsewhere, a person (in this section called the ``representative'') engages in particular conduct while the person is a representative of 2 or more persons (in this section called the ``indemnifying principals''); and

(b)  it is proved for the purposes of the proceeding that the representative engaged in the conduct as a representative of some person (in this section called the ``unknown principal'') but it is not proved for those purposes who the unknown principal is.

 View history note

1184(2)  [Liability of an indemnifying principal]  

If only one of the indemnifying principals is a party to the proceeding, he, she or it is liable in respect of that conduct as if he, she or it were the unknown principal.

1184(3)  [Liability of 2 or more indemnifying principals]  

If 2 or more of the indemnifying principals are parties to the proceeding, each of those parties is liable in respect of that conduct as if he, she or it were the unknown principal.

 

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