Document ID: chunk:federal_register_of_legislation:C2020A00116:section:31
Version: federal_register_of_legislation:C2020A00116
Segment Type: section
Provision Reference: s 31
Character Range: 43688–45011

31  Arrangements that are legally binding under foreign law
 (1) If:
 (a) a core State/Territory entity enters an arrangement with a core foreign entity in contravention of subsection 22(1); and
 (b) the arrangement is legally binding under a foreign law;
then this section applies to the arrangement.
 (2) After entering the arrangement, the core State/Territory entity must:
 (a) within 14 days, or such longer period (if any) prescribed by the rules:
 (i) notify the core foreign entity that this section applies to the arrangement; and
 (ii) take steps to terminate the arrangement in accordance with the foreign law; and
 (b) as soon as practicable after it has complied with paragraph (a), notify the Minister, in writing, of its compliance with that paragraph.
 (3) The core State/Territory entity must not, at any time:
 (a) give effect to the arrangement; or
 (b) hold out, or conduct itself on the basis, that it can give effect to the arrangement.
 (4) The core foreign entity must not, from the time it is notified under subsection (2) that this section applies to the arrangement:
 (a) give effect to the arrangement in Australia; or
 (b) hold out in Australia, or conduct itself in Australia on the basis, that it can give effect to the arrangement.

Subdivision B—Effect on non‑legally binding arrangements