CORPORATIONS ACT 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.6 - LICENSING OF PROVIDERS OF FINANCIAL SERVICES  

Division 11 - Agreements with unlicensed persons relating to the provision of financial services  

Subdivision A - Agreements affected  

SECTION 924A   AGREEMENTS WITH CERTAIN UNLICENSED PERSONS  

924A(1)   [ Application]  

Subdivision B applies to an agreement entered into by a person (in this section and Subdivision B called the non-licensee ) and another person (in this section and Subdivision B called the client ) (not being a financial services licensee) that constitutes, or relates to, the provision of a financial service by the non-licensee if:


(a) the agreement is entered into in the course of a financial services business carried on by the non-licensee; and


(b) the non-licensee does not hold an Australian financial services licence covering the provision of the financial service, and is not exempt from the requirement to hold such a licence.

Note: It does not matter whether the financial service is provided to the client as a wholesale client or as a retail client.

924A(2)   [ No limitation]  

Subdivision B applies to the agreement whether or not anyone else is a party to the agreement.


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