CORPORATIONS ACT 2001 - SECT 659C Court proceedings after end of bid period

CORPORATIONS ACT 2001 - SECT 659C

  (1)   If:

  (a)   an application is made to the Takeovers Panel for a declaration under section   657A that particular conduct amounts to, or leads to, circumstances that are unacceptable; and

  (b)   the Takeovers Panel refuses to make the declaration; and

  (c)   a Court finds after the end of the bid period that the conduct contravenes this Act;

the Court's powers under this Act in relation to the conduct are limited to the following:

  (d)   the Court may:

  (i)   determine whether a person is guilty of an offence against this Act because they engaged in or were involved in the conduct; and

  (ii)   impose a penalty if the person is found guilty;

  (e)   the Court may:

  (i)   determine whether a person who engaged in, or was involved in, the conduct contravened a provision of this Act; and

  (ii)   order the person to pay an amount of money to another person (whether by way of damages, account of profits, pecuniary penalty or otherwise);

  (f)   the Court may make an order under section   1318 or 1322 in relation to the conduct.

This subsection does not confer power or jurisdiction on a court that it does not have apart from this subsection.

  (2)   Without limiting subsection   (1), the only kind of remedial order that the Court may make is one that requires the person to pay money to another person.