Financial Intermediaries Act 1996

A person may claim compensation from the State if the person incurs loss or expense because of the exercise or purported exercise of a power under this subdivision, including, for example, in complying with a requirement made of the person.

Compensation may be claimed and ordered in a proceeding—

brought in a court with jurisdiction for the recovery of the amount of compensation claimed; or

for an offence brought against the person claiming compensation.

A court may order compensation to be paid only if satisfied it is just to make the order in the circumstances of the particular case.

A regulation may prescribe matters that may, or must, be taken into account by the court when considering whether it is just to make the order.