THE CORPORATIONS LAW
CCH Note:
Part 13 of the Corporations Act 1989, inserted
by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as
follows:
PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW 82 The Corporations Law is as follows:...
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 1170 CLIENT MAY RECOVER COMMISSION PAID TO NON-LICENSEE 1170(1) [Client may recover commission] Without limiting the generality of section 1166, if the client gives a notice under section 1164, the client may, even if the notice does not result under section 1165 in rescission of the agreement, recover from the non-licensee as a debt the amount of any brokerage, commission or other fee that the client has paid to the non-licensee under or in connection with the agreement. 1170(2) [Commission may recover commission on behalf of client] The Commission may, if it considers that it is in the public interest to do so, bring an action under subsection (1) in the name of, and for the benefit of, the client.This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.