New South Wales Consolidated Acts

LIMITATION ACT 1969 - SECT 64

64 Account

(1) Subject to subsection (2), on the expiration of a limitation period fixed by or under this Act for a cause of action for an account founded on a liability at law to account in respect of any matter, the right and title of the person formerly having the cause of action and of a person claiming through the person in respect of that matter is, as against the person against whom the cause of action formerly lay and as against the person's successors, extinguished.

(2) Where, before the expiration of a limitation period fixed by or under this Act for a cause of action for an account founded on a liability at law to account in respect of any matter, an action is brought on the cause of action, the expiration of the limitation period does not affect the right or title of the plaintiff in respect of that matter--

(a) for the purposes of the action, or

(b) so far as the right or title is established in the action.

(3) This section does not apply to a cause of action to which section 65 applies.