Limitation of action and amount recoverable

(1) Notwithstanding any provision of law to the contrary, any action pursuant to section 16 (2) of this Act may not be commenced after, (a) one year from the day that the plaintiff first had knowledge of the misrepresentation; or (b) one year from the date of the purchase transaction that gave rise to the cause of whichever is earlier. (2) In any action under section 16 (2) of this Act, the amount recoverable shall not exceed the amount at which the shares were purchased or subscribed, including any fees or other charges paid by the plaintiff. 25