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 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a notice so given will result under section 799 in rescission of the agreement; and(b) applies after the agreement is rescinded under section 799; but does not otherwise apply. 801(2) [Agreement unenforceable] The non-licensee is not entitled, as against the client: (a) to enforce the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.