National Consumer Credit Protection Act 2009
If a licensee is responsible for the conduct of its representative under this Division, the client has the same remedies against the licensee that the client has against the representative.
78(2) [ Joint and several liability]The licensee and the representative (along with any other licensees that are also responsible) are all jointly and severally liable to the client in relation to those remedies.
78(3) [ Criminal responsibility or civil liability]However, nothing in this Division imposes:
(a) any criminal responsibility; or
(b) any civil liability under a provision of this Act apart from this Division;
on a licensee that would not otherwise be imposed on the licensee.
78(4) [ No relief from liability given to representatives]This Division does not relieve a representative of a licensee of any liability that the representative has to the client or the licensee.
78(5) [ Cannot contract out of sections 75, 76 or 77]An agreement has no effect in so far as it purports to alter or restrict the operation of section 75 , 76 or 77 .
78(6) [ Exceptions to subsection 5]However, subsection (5) does not apply to the extent that the agreement:
(a) provides for a representative of a licensee to indemnify the licensee for a liability of the licensee in relation to the representative; or
(b) provides for a licensee, for whom a representative acts, to indemnify another licensee for a liability in relation to the representative. 78(7) [ Licensee must not make agreement]
A licensee must not make, or offer to make, an agreement that has, or would have, no effect under subsection (5).
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