THE CORPORATIONS LAW

CHAPTER 6 - TAKEOVERS

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PART 6.10 - REVIEW AND INTERVENTION

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Division 3 - Court powers

SECTION 659C   COURT PROCEEDINGS AFTER END OF BID PERIOD  

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659C(1)  [Limitation on Court's powers]  

If:

(a)  an application is made to the Panel for a declaration under section 657A that particular conduct amounts to, or leads to, circumstances that are unacceptable; and

(b)  the Panel refuses to make the declaration; and

(c)  a Court finds after the end of the bid period that the conduct contravenes this Law;

the Court's powers under this Law in relation to the conduct are limited to the following:

(d)  the Court may:

(i) determine whether a person is guilty of an offence against this Law because they engaged in or were involved in the conduct; and
(ii) impose a penalty if the person is found guilty

(e)  the Court may:

(i) determine whether a person who engaged in, or was involved in, the conduct contravened a provision of the Law; and
(ii) order the person to pay an amount of money to another person (whether by way of damages, account of profits, pecuniary penalty or otherwise)

(f)  the Court may make an order under section 1318 or 1322 in relation to the conduct.

This subsection does not confer power or jurisdiction on a court that it does not have apart from this subsection.

659C(2)  [Type of remedial order]  

Without limiting subsection (1), the only kind of remedial order that the Court may make is one that requires the person to pay money to another person.

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