THE CORPORATIONS LAW

CHAPTER 7 - SECURITIES

PART 7.3 - PARTICIPANTS IN THE SECURITIES INDUSTRY

Division 2 - Agreements with unlicensed persons

Subdivision B - Effect on agreements

SECTION 801   AGREEMENT UNENFORCEABLE AGAINST CLIENT  

801(1)  [Application of section]  

This section:

(a)  applies while both of the following are the case:

(i) the client is entitled to give a notice under section 798;
(ii) a notice so given will result under section 799 in rescission of the agreement; and

(b)  applies after the agreement is rescinded under section 799;

but does not otherwise apply.

801(2)  [Agreement unenforceable]  

The non-licensee is not entitled, as against the client:

(a)  to enforce the agreement, whether directly or indirectly; or

(b)  to rely on the agreement, whether directly or indirectly and whether by way of defence or otherwise.




This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.