NSW Reconstruction Authority Act 2022

This section applies if—

because of an association with the Authority, a person is in a position to influence proposals made, or to be made, by the Authority in relation to the acquisition, development or disposal of land, and

the person influences a proposal by securing the inclusion or alteration of a matter in, or the exclusion or omission of a matter from, the proposal.

The person contravenes this subsection if the person influences a proposal by securing the inclusion or alteration of any matter in, or the exclusion or omission of any matter from, the proposal for the purpose of—

gaining an advantage for the person, or

enabling another person to gain an advantage.

for an individual—40 penalty units, or

otherwise—200 penalty units.

If a contravention of this section occurs and an advantage referred to in subsection (2) is gained that would not have been gained if the proposal had not been influenced, a person who gained the advantage is, whether or not any person has been prosecuted for or convicted of an offence in relation to a contravention of subsection (2), liable to another person for the amount of any loss incurred by the other person because of the gaining of the advantage.

If a loss referred to in subsection (3) is incurred because of an advantage gained from a dealing in land, the amount of the loss is the difference between—

the price at which the dealing was effected, and

the price that, in the opinion of the court before which it is sought to recover the amount of the loss, would have been the market price of the land at the time of the dealing if the proposal had not been influenced.

An action to recover a loss referred to in subsection (3) may not be brought more than 5 years after the dealing in land in relation to which the loss was incurred.