CORPORATIONS ACT 2001 - SECT 601MA Civil liability of responsible entity to members
CORPORATIONS ACT 2001 - SECT 601MA
Civil liability of responsible entity to members(1) A member of a registered scheme who suffers loss or damage because of conduct of the scheme's responsible entity that contravenes a provision of this Chapter may recover the amount of the loss or damage by action against the responsible entity whether or not the responsible entity has been convicted of an offence, or has had a civil penalty order made against it, in respect of the contravention.
(2) An action under subsection (1) must be begun within 6 years after the cause of action arises.
(3) This section does not affect any liability that a person has
under other provisions of this Act or under other laws.