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 1188   EFFECT OF DIVISION  

View history reference

1188(1)  [Joint and several liability]  

Where 2 or more persons are liable under this Division in respect of the same conduct or the same loss or damage, they are so liable jointly and severally.

1188(2)  [Restricted effect of sections]  

Nothing in section 1183, 1184 or 1185:

(a)  affects a liability arising otherwise than by virtue of this Division;

(b)  notwithstanding paragraph (a) of this subsection, entitles a person to be compensated twice in respect of the same loss or damage; or

(c)  makes a person guilty of an offence.

 

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