CORPORATIONS ACT 2001 No. 50, 2001 - SECT 671C Civil liability

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CORPORATIONS ACT 2001 No. 50, 2001 - SECT 671C

Civil liability

(1) A person who contravenes section 671B is liable to compensate a person for any loss or damage the person suffers because of the contravention. (2) It is a defence in proceedings brought under this section if the person who contravenes section 671B proves that they contravened that section:

(a): because of inadvertence or mistake; or
(b): because they were not aware of a relevant fact or occurrence.

In determining whether the defence is available, disregard the person's ignorance of, or a mistake on the person's part concerning, a matter of law.

(3) If 2 or more persons each contravene section 671B because of the same act or omission, their liability under this section for the contravention is joint and individual.

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