Victorian Consolidated Legislation

Introduction Agents Act 1997 - SECT 26

Procedure if notice given that agreement is void

26. Procedure if notice given that agreement is void



(1) If an introduction agent enters into an agreement that is void under
section 25(2), she, he or it must refund any money that was paid in respect of
the agreement within 21 days of receiving from the other party to the
agreement, or the Director, a written notice stating that the agreement is
void.

Penalty: 100 penalty units.

(2) If an introduction agent receives a notice stating that an introduction
agreement is void, she, he or it may apply to the Magistrates' Court for a
declaration that the agreement is not void.

(3) An application under subsection (2) or section 25(3)-

   (a)  must be made within 30 days of the date the agent receives the notice;
        and

   (b)  may be made even though the agent has complied with subsection (1).

(4) An introduction agent need not comply with subsection (1) if she, he or
it-

   (a)  applies to the Magistrates' Court within 21 days of receiving the
        notice for-

   (i)  a declaration under subsection (2); or

   (ii) an order under section 25(3) in respect of the void agreement; and

   (b)  pays into the Court an amount equivalent to the amount that was paid
        in respect of the agreement.

(5) If money is paid into the Magistrates' Court under subsection (4)-

   (a)  if the application for a declaration or an order is withdrawn, the
        principal registrar of the Court must pay the money to the other party
        to the void agreement;

   (b)  in any other case, the principal registrar of the Court must pay the
        money out in accordance with the order of the Court.

(6) In making-

   (a)  a declaration that an agreement is not void; or

   (b)  an order under section 25(3) in relation to a void agreement-

the Court may make any other incidental order that it considers appropriate.

(7) Without limiting the power conferred by subsection (6), the Court may
order a person to pay an amount of money to the agent.