s 358 Commission may recover loss or damage
(1) The Commission may, if it considers that it is in the public interest to do so, recover on behalf of a person who suffers loss or damage by reason of, or by relying on, the conduct of another person who has contravened any provision of Part VI or any regulations made under this Act, the amount of the loss or damage by instituting civil proceedings against the other person whether or not that other person has been charged with an offence in respect of the contravention or whether or not a contravention has been proved in a prosecution. (2) Notwithstanding the provisions of any written law relating to limitation of time, an action under subsection (1) may be begun at any time within six years from the date on which the cause of action accrued or the date on which the Commission became aware of the contravention, whichever is the later. (3) Any loss or damage recovered by the Commission under subsection (1) shall be appliedβ (a) firstly, to reimburse the Commission for all costs of the investigation and proceedings in respect of the contravention; and (b) secondly, to compensate persons who suffer loss or damage by reason of, or by relying on, the conduct of another person who has contravened any provision of Part VI or any regulations made under this Act. (4) If the Commission considers that it is not practicable to compensate the persons referred to in paragraph (3)(b), in view of the amount of any potential distribution to each person or the difficulty of ascertaining or notifying the persons whom it is appropriate to compensate, as the case may be, the Commission may decide not to distribute to the persons referred to in paragraph (3)(b). (5) To the extent that any of the amount recovered or obtained in a civil action under subsection (1) has not been distributed pursuant to subsection (3), it shallβ (a) be paid to the Capital Market Development Fund maintained under Part IX; or (b) be retained by the Commission to defray the costs of regulating market trading, as the Commission, with the approval of the Minister, may determine. (6) Any right of action that is conferred under this section is in addition to any right that such person has under any other law.