Regulator may cause civil proceeding to be begun
298 Regulator may cause civil proceeding to be begun
If, as a result of an investigation or from a record of an examination (being an investigation or examination conducted under this Part), it appears to the Regulator to be in the public interest for a person to begin and carry on a proceeding for:
the recovery of damages for fraud, negligence, default, breach of duty, or other misconduct, committed in connection with a matter to which the investigation or examination related; or
recovery of property of the person;
the Regulator:
if the person is a body corporate—may cause; or
otherwise—may, with the person’s written consent, cause:
such a proceeding to be begun and carried on in the person’s name.
This Act’s bill:Second reading speech
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.