Section 1317HC — Corporations Act 2001: Compensation orders—financial benchmark rules or compelled financial benchmark rules

Compensation for damage suffered (1) A Court may order a person (the liable person) to compensate another person (including a corporation), or a registered scheme, for damage suffered by the person or scheme if: (a) the liable person has contravened subsection 908CF(1) (complying with rules about financial benchmarks); and (b) the damage resulted from the contravention. The order must specify the amount of compensation. Note: An order may be made under this subsection whether or not a declaration of contravention has been made under section 1317E. Damage includes profits (2) In determining the damage suffered by a person or scheme for the purposes of making a compensation order, include profits made by any person resulting from the contravention. Damage to scheme includes diminution of value of scheme property (3) In determining the damage suffered by a registered scheme for the purposes of making a compensation order, include any diminution in the value of the property of the scheme. Recovery of damage (4) A compensation order may be enforced as if it were a judgment of the Court.