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 B - Effect on agreements  

SECTION 925E   AGREEMENT UNENFORCEABLE AGAINST CLIENT  

925E(1)   [ Application]  

This section:

(a) applies while both of the following are the case:

(i) the client is entitled to give a notice under section 925A ;

(ii) a notice so given will result under section 925B in rescission of the agreement; and

(b) applies after the agreement is rescinded under section 925B ;

but does not otherwise apply.

925E(2)   [ Enforceability of agreement]  

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.