Section 994M — Corporations Act 2001 (Cth)

(1) If:

(a) a person (the first person) contravenes section 994B, 994C or 994D or subsection 994E(1) or (3); and

(b) another person (the client) suffers loss or damage because of the contravention;

the client may recover the amount of the loss or damage by action against the first person, whether or not:

(c) the first person (or anyone else) has been convicted of an offence in relation to the contravention; or

(d) a Court has made a declaration of contravention under subsection 1317E(1) in relation to the contravention; or

(e) a Court has ordered the first person (or anyone else) to pay the Commonwealth a pecuniary penalty under section 1317G in relation to the contravention.

(2) An action under subsection (1) may be begun at any time within 6 years after the day on which the cause of action arose.

(3) This section does not affect any liability that a person has under any other law.

Related sections

• s 994H — Information to be provided to ASIC
• s 994J — Stop orders
• s 994L — Exemptions and modifications by ASIC
• s 994N — Additional powers of court to make orders
• s 994P — Orders to redress loss or damage suffered by non‑party consumers etc.
• s 994Q — Kinds of orders that may be made to redress loss or damage suffered by non‑party consumers etc.

Research how courts apply s 994M

BriefBridge searches Australian caselaw by meaning — every answer cited to the paragraph.