Corporations Act 2001
CHAPTER 7
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FINANCIAL SERVICES AND MARKETS
(a) applies while both of the following are the case:
(b) applies after the agreement is rescinded under section 925B ;
(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.
PART 7.6
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LICENSING OF PROVIDERS OF FINANCIAL SERVICES
Division 11
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Agreements with unlicensed persons relating to the provision of financial services
Subdivision B
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Effect on agreements
SECTION 925E
AGREEMENT UNENFORCEABLE AGAINST CLIENT
925E(1)
[
Application]
(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(b) applies after the agreement is rescinded under section 925B ;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.
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