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 E - Other matters  

SECTION 836H   SUPPLY OF ESSENTIAL SERVICES  

836H(1)    
If:

(a)    a statutory manager of a body corporate requests, or authorises someone else to request, a person or authority (the supplier ) to supply an essential service to the body corporate in Australia; and

(b)    the body corporate owes an amount to the supplier in respect of supply of the essential service before the effective day;

the supplier must not:

(c)    refuse to comply with the request for the reason only that the amount is owing; or

(d)    make it a condition of the supply of the essential service pursuant to the request that the amount is to be paid.

836H(2)    
If any conduct (including a refusal or failure to act) amounts or would amount to a contravention of paragraph (1)(c) or (d) in relation to a particular body corporate that is under statutory management, each of the following is taken, for the purposes of section 1324 , to be a person whose interests are affected by the conduct:

(a)    the statutory manager;

(b)    the Reserve Bank.

Note: Section 1324 provides for injunctions to enforce paragraphs (1)(c) and (d) of this section.

836H(3)    
However, the statutory manager may apply for an injunction under section 1324 in respect of the conduct only if the statutory manager applies jointly with the Reserve Bank.

836H(4)    
Subsection (3) of this section does not, by implication, limit the class of persons whose interests are affected by the conduct.

836H(5)    
In this section:

effective day
, in relation to a body corporate that is under statutory management, is the day the body corporate began to be under statutory management.