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 925H   CLIENT MAY RECOVER COMMISSION PAID TO NON-LICENSEE  

925H(1)   [ Client may recover commission]  

Without limiting the generality of section 925D , if the client gives a notice under section 925A , the client may, even if the notice does not result under section 925B in rescission of the agreement, recover from the non-licensee as a debt the amount of any brokerage, commission or other fee that the client has paid to the non-licensee under or in connection with the agreement.

925H(2)   [ ASIC may bring action]  

ASIC may, if it considers that it is in the public interest to do so, bring an action under subsection (1) in the name of, and for the benefit of, the client.