10Liability of scheme operator under market operations rules—the Act, s 33LA(3)

10 Liability of scheme operator under market operations rules—the Act, s 33LA(3)

10 Liability of scheme operator under market operations rules—the Act, s 33LA(3)

For the Act, section 33LA(3)—

(a) the maximum amount payable by the scheme operator is as follows—

(i) $50,000 to a person for a particular negligent act or omission,

(ii) $500,000 in total for all negligent acts and omissions occurring in a calendar year, and

(b) the maximum amount payable by an officer or employee of the scheme operator is nil.