Western Australian Consolidated Acts Western Australian Consolidated Acts (1) An agent
shall not have, directly or indirectly, any interest, otherwise than in his
capacity as an agent, in any transaction in which he acts or purports to act
as agent, unless his principal has given prior written consent thereto.
Penalty: $5 000.
(2) A sales
representative or other person in the employment of an agent shall not have,
directly or indirectly, any interest, other than an interest that exists by
virtue only of his employment, in any transaction in which the agent acts or
purports to act unless the agent’s principal has given prior written
consent thereto.
Penalty: $5 000.
(3) A court before
which any person is convicted of an offence under this section may order that
person to pay over to the agent’s principal any profit that that person
has made, or is, in the opinion of the court, likely to make from the
transaction.
(4) An agent shall
not, whether directly or indirectly, demand, receive, or hold any reward or
other valuable consideration for or in relation to any transaction in respect
of which the agent or an employee of the agent has an interest in
contravention of this section.
(5) Any reward or
other valuable consideration received or held in contravention of this section
may be recovered as a civil debt recoverable summarily in any court of
competent jurisdiction.
[Section 64 amended by No. 43 of 1994
s. 11; No. 50 of 2003 s. 88(2).]