Document ID: chunk:federal_register_of_legislation:C2018A00010:clause:3_161b
Version: federal_register_of_legislation:C2018A00010
Segment Type: clause
Provision Reference: sch 3 cl 161B
Character Range: 273403–274010

161B  Moratorium—effect of judicial management on disposal of property
 (1) A person must not dispose of property if:
 (a) the property is owned by another person; and
 (b) the other person is a life company; and
 (c) the life company is under judicial management.
Note: The Court may grant an injunction under section 235 in respect of a contravention of this subsection.
 (2) Subsection (1) does not apply if the judicial manager consents to the disposal.
 (3) The judicial manager is not liable to an action or other proceedings for damages in respect of a refusal to give consent under subsection (2).