Financial services licensee not to engage in unconscionable conduct
(1) A financial services licensee must not, in or in relation to the provision of a financial service, engage in conduct that is, in all the circumstances, unconscionable. (2) If a person suffers loss or damage because a financial services licensee contravenes subsection (1), the person may recover the amount of the loss or damage by action against the licensee. (3) An action under subsection (2) may be begun at any time within 6 years after the day on which the cause of action arose. (4) This section does not affect any liability that a person has under any other law.
Sourced from the Federal Register of Legislation at 17 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.
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