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CORPORATIONS ACT 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS    View history reference

PART 7.6 - LICENSING OF PROVIDERS OF FINANCIAL SERVICES    View history reference

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

Subdivision B - Effect on agreements    View history reference

SECTION 925H  CLIENT MAY RECOVER COMMISSION PAID TO NON-LICENSEE  

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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.


 



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