Banking Act 1959
View history note
Hide history noteSection 440B of the Corporations Act 2001 applies during a period in which a Banking Act statutory manager is in control of a body corporate ' s business in the same way it applies during the administration of a company.
(2)
For the purposes of this section, treat the reference in paragraph 440B(2)(a) of the Corporations Act 2001 to the administrator ' s written consent as being a reference to:
(a) the Banking Act statutory manager ' s written consent; or
(b) APRA ' s written consent.
(3)
Neither APRA nor a Banking Act statutory manager is liable to an action or other proceedings for damages in respect of a refusal to give consent as mentioned in subsection (2).
(4)
This section applies despite sections 15B , 15BA and 15BB .
(5)
This section has effect subject to section 31B .
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