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21. Agreements made by non-Authorised Persons

Past version: effective from 20/10/2015 - 19/10/2015
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(1) An Agreement made by a person in the course of carrying on a Regulated Activity in contravention of the General Prohibition is unenforceable against the other party.
(2) The other party is entitled to recover —
(a) any money or other property paid or transferred by him under the Agreement; and
(b) compensation for any loss sustained by him as a result of having parted with it.
(3) This section does not apply if the Regulated Activity is Accepting Deposits.