Corporations Act 2001
Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .
View history note
Hide history noteDuty to follow directions by the Reserve Bank
835B(1)
The Reserve Bank: (a) may give a statutory manager of a body corporate a direction relating to the control of the body corporate ' s business; and (b) may vary such a direction.
835B(2)
A statutory manager who is given a direction, or a varied direction, under subsection (1) must: (a) comply with the direction; or (b) immediately:
(i) request the Reserve Bank to vary the direction; and
(ii) provide the Reserve Bank with information relating to the control of the body corporate ' s business that is relevant to its request.
835B(3)
If the Reserve Bank refuses to vary the direction, the statutory manager must comply with the direction.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
