THE CORPORATIONS LAW

CHAPTER 8 - THE FUTURES INDUSTRY

PART 8.3 - PARTICIPANTS IN THE FUTURES INDUSTRY

Division 3 - Futures representatives

SECTION 1174   DEFENCE  

1174    It is a defence to a prosecution for a contravention of section 1172 or 1173 constituted by an act done by a person as a representative of another person if it is proved that:

(a)  but for the revocation or suspension of a licence held by the other person, the act would not have been such a contravention;

(b)  when he or she did the act, the first-mentioned person:

(i) believed in good faith that the other person held the licence; and

(ii) was unaware of the revocation or suspension; and

(c)  in all the circumstances it was reasonable for the first-mentioned person so to believe and to be unaware of the revocation or suspension.