In force2022 Revised EditionCurrent version · 2022 Revised EditionSee versions on Attorney General's Chambers(opens the publisher’s site)
Secured Transactions Act · 2022 Revised Edition · Part · General
Secured Transactions Act · 2022 Revised Edition · Part · General
Official textFrom Attorney General's Chambers, unchanged
If a person fails to discharge any duty or obligation imposed by this Act, the person to whom the duty or obligation is owed and any other person who can reasonably be expected to rely on performance of the duty or obligation shall have a right to recover damages for any loss or damage that was reasonably foreseeable as likely to result from the failure.
Nothing in subsection (1) shall limit or affect any liability that a person may incur under any written law other than this Act.
In addition to the damages recoverable under subsections (1)
and (2), the person who registered a financing statement without authorisation of the debtor shall be responsible to pay to the debtor damages.
financing statement
“financing statement” means forms in writing or their electronic equivalent as provided in the regulations on which information is provided in order to effect, amend, terminate or continue a registration;
financing statement
“financing statement” means forms in writing or their electronic equivalent as provided in the regulations on which information is provided in order to effect, amend, terminate or continue a registration;