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 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

View history reference

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(b) applies after the agreement is rescinded under section 799;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

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