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 noteIf a statutory manager of a body corporate (other than the Reserve Bank) has reasonable grounds to believe that an action that the statutory manager proposes to take is an action that is likely to pose a threat to: (a) the stability of the financial system in Australia; or (b) the continuity of one or more clearing and settlement facility services that are critical to the functioning of the financial system in Australia;
the statutory manager must, before taking the action:
(c) notify the Reserve Bank in writing as soon as practicable; and (d) obtain the Reserve Bank ' s written consent.
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