90Offences—engage in regulated dealing without

90 Offences—engage in regulated dealing without registration (1) A person must not engage in a regulated dealing if the person is not registered to engage in the dealing. (a) intentionally or negligently engages in a regulated dealing; and (b) is not registered to engage in the dealing. if the defendant proves that they had a reasonable excuse for engaging in the regulated dealing. the defendant proves that— (a) they engaged in the dealing as the employee or agent of a registered person; and

(b) the registered person is registered to engage in the dealing.