THE CORPORATIONS LAW

CHAPTER 8 - THE FUTURES INDUSTRY

PART 8.3 - PARTICIPANTS IN THE FUTURES INDUSTRY

Division 2 - Agreements with unlicensed persons

Subdivision B - Effect on agreements

SECTION 1166   COURT MAY MAKE CONSEQUENTIAL ORDERS  

1166(1)  [Court's powers on rescission]  

Subject to subsection (2), on rescission of the agreement under section 1165, the Court may, on the application of the client or the non-licensee, make such orders as it would have power to make if the client had duly rescinded the agreement for misrepresentation by the non-licensee.

1166(2)  [Limitation on Court's powers]  

The Court is not empowered to make a particular order under subsection (1) if the order would prejudice a right, or an estate in property, acquired by a person (other than the non-licensee) in good faith, for valuable consideration and without notice of the facts entitling the client to give the notice.