Commonwealth Consolidated Acts

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Refund orders--contravention of section 962P

             (1)  A Court may order that a person (the fee recipient ) refund a fee paid to the fee recipient by another person (the client ) if the Court is satisfied that:

                     (a)  the fee recipient knowingly or recklessly contravened section 962P in charging the client the fee (charging ongoing fee after termination of ongoing fee arrangement); and

                     (b)  it is reasonable in all the circumstances to make the order.

Note:          An order may be made under this subsection whether or not a declaration of contravention has been made under section 1317E.

Applications for order

             (2)  The Court may make the order under this section:

                     (a)  on its own initiative, during proceedings before the Court; or

                     (b)  on application by ASIC; or

                     (c)  on the application of the client.

When order may be made

             (3)  The Court must not make an order under this section in relation to fees paid more than 6 years before the proceedings for the order are commenced.

Recovery of amount as a debt

             (4)  If the Court makes an order that the fee recipient refund an amount specified in the order to the client, the client may recover the amount as a debt due to the client.

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