Retirement Savings Accounts Act 1997

PART 4 - OPERATING STANDARDS ETC. AND ANNUAL RETURNS FOR RSAs

Division 4 - Other provisions relating to the operation of RSAs

SECTION 43 CIVIL LIABILITY WHERE SECTION 42 CONTRAVENED

43(1) [Recovery action]

Subject to subsection (2), if a person (the plaintiff ) suffers loss or damage because of a contravention of section 42 by another person (the primary defendant ), the plaintiff may recover the amount of the loss or damage by action against:

(a) the primary defendant; or

(b) a person involved in the contravention.

43(2) [Notwithstanding conviction]

The action may be begun even if the defendant has been convicted of an offence in respect of the conduct constituting the contravention.

43(3) [Time limit]

The action must be begun within 6 years after the day on which the cause of action arose.

43(4) [Liability under other laws]

This section does not affect any liability that the defendant or another person has under any other provision of this Act or under any other law.

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