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 1168 NON-LICENSEE NOT ENTITLED TO RECOVER COMMISSION

View history reference

1168(1) [Application]

Without limiting the generality of section 1167, this section:

(a) applies while the client is entitled to give a notice under section 1164; and

(b) applies after the client so gives a notice, even if the notice does not result under section 1165 in rescission of the agreement;

but does not otherwise apply.

1168(2) [Not entitled to recovery]

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.

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