33Licensee not to share commission with certain persons

33 Licensee not to share commission with certain persons

33 Licensee not to share commission with certain persons

(1) A licensee must not enter into an arrangement with or act in conjunction with a person that the licensee knows to be an unlicensed person (other than an employee in the licensee’s business as a licensee) whereby the unlicensed person is entitled to a share of the commission, fee, gain or reward payable to the licensee in respect of any transaction by or with him or her as a licensee or generally.

Maximum penalty—

(a) 100 penalty units in the case of a corporation, or

(b) 50 penalty units in any other case.

(2) In this section—

unlicensed person means a person who is not licensed under this Act or a corresponding Act.

s 33: Am 2018 No 5, Sch 1[31].