Document ID: chunk:federal_register_of_legislation:C2025C00185:section:1043l:p3
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 1043L (pt 3/5)
Character Range: 4620241–4622876

in the case of an acquisition or agreement to acquire the financial products—the amount (if any) by which the price described in the first of the following subparagraphs was less than the price described in the second of those subparagraphs:
 (i) the price at which the financial products were acquired, or agreed to be acquired, by the insider or other person from the disposer;
 (ii) the price at which they were likely to have been acquired in an acquisition made at the time of the first‑mentioned acquisition or the time of the agreement, as the case may be, if the information had been generally available; or
 (b) in the case of a disposal or an agreement to dispose of financial products—the amount (if any) by which the price described in the first of the following subparagraphs was greater than the price described in the second of those subparagraphs:
 (i) the price at which the financial products were disposed of, or agreed to be disposed of, by the insider or other person to the acquirer;
 (ii) the price at which they would have been likely to have been disposed of at the time of the first‑mentioned disposal or the time of the agreement, as the case may be, if the information had been generally available.
The action may be taken against the insider, the other person or any other person involved in the contravention.

ASIC may take action for benefit of issuer
 (6) ASIC may, if it considers that it is in the public interest to do so, bring an action in accordance with subsection (2) or (5) in the name of, and for the benefit of, an issuer of Division 3 financial products for the recovery of an amount that the issuer is entitled to recover by virtue of that subsection.

Relief from liability
 (7) In an action brought against a person in accordance with this section because the person entered into, or procured another person to enter into, a transaction or agreement at a time when certain information was in the first‑mentioned person's possession, the court may relieve the person wholly or partly from liability if it appears to the court that the information came into the first‑mentioned person's possession solely as a result of the information having been made known as mentioned in subparagraph 1042C(1)(b)(i).

Special provision for registered schemes and notified foreign passport funds—treatment of amount recovered in respect of subsection (2) loss
 (8) If:
 (a) the responsible entity for a registered scheme or the operator of a notified foreign passport fund; or
 (b) ASIC in the name of, and for the benefit of, the responsible entity for a registered scheme or the operator of a notified