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 1167 AGREEMENT UNENFORCEABLE AGAINST CLIENT

View history reference

1167(1) [Application]

This section:

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

(i) the client is entitled to give a notice under section 1164;

(ii) a notice so given will result under section 1165 in rescission of the agreement; and

(b) applies after the agreement is rescinded under section 1165;

but does not otherwise apply.

1167(2) [May not enforce or rely on agreement]

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.

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