Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .

PART 7.3B - CRISIS RESOLUTION FOR CS FACILITY LICENSEES  

DIVISION 3 - STATUTORY MANAGEMENT  

Subdivision C - Effect of statutory manager assuming control  

SECTION 834B  

834B   EFFECT OF THINGS DONE DURING STATUTORY MANAGEMENT OF BODY CORPORATE  

A payment made, transaction entered into, or any other act or thing done, in good faith, by the statutory manager of a body corporate under statutory management or with the written consent of the statutory manager or the Reserve Bank:

(a)    is valid and effectual for the purposes of this Act; and

(b)    is not liable to be set aside in a winding up of the body corporate.