Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) If a declaration has been made under section 12GND in relation to a term (the declared term ) of a contract, the Court may:
(a) on the application of a party to the contract; or
(b) on the application of ASIC made on behalf of, and with the consent in writing of, one or more parties to the contract;
make against a party (the respondent ) to the contract who is advantaged by the declared term such order or orders (other than an award of damages) as the Court thinks appropriate:
(c) to redress, in whole or in part, loss or damage that has been caused to any person by the declared term; or
(d) to prevent or reduce loss or damage that is likely to be so caused.
(2) Without limiting subsection (1), the orders that the Court may make against the respondent include all or any of the following:
(a) an order declaring the whole or any part of the contract, or of a collateral arrangement relating to the contract:
(i) to be void; and
(ii) if the Court thinks fit--to have been void ab initio or void at all times on and after such date as is specified in the order (which may be a date that is before the date on which the order is made);
(b) an order:
(i) varying the contract, or such a collateral arrangement, as specified in the order; and
(ii) if the Court thinks fit--declaring the contract or arrangement to have had effect as so varied on and after such date as is specified in the order (which may be a date that is before the date on which the order is made);
(c) an order refusing to enforce any or all of the provisions of the contract, or of such a collateral arrangement.
(3) An application under subsection (1) may be made at any time before the end of 6 years from the day on which the declaration under section 12GND was made.