New South Wales Consolidated Acts

REGISTRATION OF INTERESTS IN GOODS ACT 1986 - SECT 14

14 Assessment of compensation

(1) Compensation awarded to a creditor under section 12 or 13 shall be such amount as is determined by the Director-General under that section but shall not in any case exceed the amount of the loss sustained by the creditor by reason of the operation of section 9 or a prescribed provision of a corresponding law or the value of the goods at the time of the purchase that caused the loss, whichever is the lesser amount.

(1A) For the purposes of subsection (1), the value of goods at the time of a purchase is, in the absence of evidence to the contrary, presumed to be the amount of the price paid in respect of that purchase.

(2) Where, by the operation of section 10 or a prescribed provision of a corresponding law, a creditor has, by subrogation, rights against the purchaser of the goods in relation to which the creditor had a registrable interest, the maximum amount of compensation that may be awarded to the creditor under section 12 or 13 is the amount (if any) by which the creditor’s loss exceeds the unpaid balance of the purchase price.