Document ID: chunk:federal_register_of_legislation:C2018A00027:clause:1_1317hc
Version: federal_register_of_legislation:C2018A00027
Segment Type: clause
Provision Reference: sch 1 cl 1317HC
Character Range: 63863–65066

1317HC  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.