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 925F   NON-LICENSEE NOT ENTITLED TO RECOVER COMMISSION  

925F(1)   [ Application]  

Without limiting the generality of section 925E , this section:


(a) applies while the client is entitled to give a notice under section 925A ; and


(b) applies after the client so gives a notice, even if the notice does not result under section 925B in rescission of the agreement;

but does not otherwise apply.

925F(2)   [ Non-licensee not entitled to recover commission]  

The non-licensee is not entitled to recover by any means (including, for example, set-off or a claim on a quantum meruit ) any brokerage, commission or other fee for which the client would, but for this section, have been liable to the non-licensee under or in connection with the agreement.


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