Recovery of success fee
22 Recovery of success fee
If a person receives a success fee under a provision of a contract that breaches the prohibition in section 21(1) or (2), an amount equal to the monetary value of the success fee received by the person may be recovered from that person in a court of competent jurisdiction at the suit of the Treasurer of the State as a civil debt owing to the State.
However, the court may decline to order the recovery of the amount if it considers that it would be unfair or unjust to make the order.
For the purposes of any proceedings under this section, if the success fee, or part of the success fee, that is the subject of the proceedings was not a specific sum of money (whether in cash or otherwise) —
the Commissioner is to estimate the amount of the monetary value of that success fee or, as the case requires, that part of the success fee; and
that estimated amount is to be taken to be the monetary value of that success fee or, as the case requires, that part of the success fee, unless the person who received the success fee shows that the success fee or, as the case requires, that part of the success fee had a different monetary value.
This Act’s bill:Explanatory memorandumSecond reading speech
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