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 802   NON-LICENSEE NOT ENTITLED TO RECOVER COMMISSION  

802(1)  [Application of section]  

Without limiting the generality of section 801, this section:

(a)  applies while the client is entitled to give a notice under section 798; and

(b)  applies after the client so gives a notice, even if the notice does not result under section 799 in rescission of the agreement;

but does not otherwise apply.

802(2)  [Recovery of commission denied]  

The non-licensee is not entitled to recover by any means (including, for example, set-off or a claim on a quantum meruit) any brokerage, commission or other fee for which the client would, but for this section, have been liable to the non-licensee under or in connection with the agreement.