THE CORPORATIONS LAW

CHAPTER 7 - SECURITIES

PART 7.3 - PARTICIPANTS IN THE SECURITIES INDUSTRY

Division 2 - Agreements with unlicensed persons

Subdivision A - Agreements affected

SECTION 795   AGREEMENTS WITH UNLICENSED PERSONS  

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795(1)  (Agreement between non-licensee and client)  

Subdivision B applies where, during a period when a person (in this section and Subdivision B called the ``non-licensee'' ) is unlicensed, the non-licensee and a client of the non-licensee enter into an agreement that:

(a)  constitutes, or relates to, a dealing or proposed dealing in securities; or

(b)  relates to advising the client about securities, or giving the client securities reports.

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795(2)  (Other parties to agreement)  

Subdivision B applies to an agreement mentioned in subsection (1) whether or not anyone else is a party to the agreement.

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795(3)  (When person unlicensed)  

A person is unlicensed during a period when the person:

(a)  in contravention of section 780, carries on, or holds out that the person carries on, a securities business; or

(b)  in contravention of section 781, carries on an investment advice business or holds out that the person is an investment adviser.

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