A statement of claim alleging loss and damage must plead material facts as to the nature of the loss and the causal relationship between the alleged breaches and the loss. A pleading of accessorial liability for contravention of s 12DA(1) of the ASIC Act must allege actual knowledge on the part of the alleged accessories that the representations were made and were misleading or deceptive. Authorities on accessorial liability under s 75B of the Trade Practices Act are applicable to the equivalent provisions of the ASIC Act.
The full text is available to signed-in members.