Franchising agreements, licensee not to carry on business under without Commissioner’s approval
56 Franchising agreements, licensee not to carry on business under without Commissioner’s approval
A licensee shall not carry on business pursuant to a franchising agreement unless he has the approval of the Commissioner to do so, and where he does so without such approval each party to the agreement commits an offence.
Penalty: $10 000.
Approval of the Commissioner for a licensee to carry on business pursuant to a franchising agreement may be subject to such conditions as the Commissioner sees fit to impose, and where those conditions are not complied with each party to the agreement commits an offence.
Penalty: $10 000.
Where a licensee carries on business pursuant to a franchising agreement —
each party to the agreement is liable to penalties imposed for failure to comply with the provisions of Part VI; and
all the parties to the agreement are jointly and severally liable for any defalcation of the licensee.
[Section 56 amended: No. 43 of 1994 s. 11; No. 58 of 2010 s. 134.]
The statute text is free to read above. View Pro plans to unlock the case-law research tools for each provision.