Section 994M — Corporations Act 2001: Civil liability

(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.