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CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 799A
Client may apply to Court for partial rescission
799A. (1) If the client gives a notice under section 798 but the notice does
not rescind the agreement because rescission of it would prejudice a right or
estate of the kind referred to in section 799, the client may, within a
reasonable period after giving the notice, apply to the Court for an order
under subsection (4) of this section.
(2) The Court may extend the period for making an application under subsection
(1).
(3) If an application is made under subsection (1), the Court may make such
orders expressed to have effect until the determination of the application as
it would have power to make if the notice had rescinded the agreement under
section 799 and the application were for orders under section 800.
(4) On an application under subsection (1), the Court may make an order:
(a) varying the agreement in such a way as to put the client in the same
position, as nearly as can be done without prejudicing such a right or
estate acquired before the order is made, as if the agreement had not
been entered into; and
(b) declaring the agreement to have had effect as so varied at and after
the time when it was originally made.
(5) If the Court makes an order under subsection (4), the agreement shall be
taken for the purposes of section 800 to have been rescinded under section
799.
(6) An order under subsection (4) does not affect the application of section
802 or 804 in relation to the agreement as originally made or as varied by the
order.
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