Document ID: chunk:federal_register_of_legislation:C2024A00087:clause:1_843a:p2
Version: federal_register_of_legislation:C2024A00087
Segment Type: clause
Provision Reference: sch 1 cl 843A (pt 2/2)
Character Range: 100639–102753

of this section during a period (the stay period) ending at the latest of the following times:
 (a) when section 842A ceases to apply to the body corporate;
 (b) if one or more orders are made under subsection (6) of this section for the body corporate as the result of an application made before section 842A ceases to apply to the body corporate—when the last made of those orders ceases to be in force.
 (6) The Court:
 (a) may order an extension of the period otherwise applying under subsection (4) or (5) of this section for the body corporate if the Court is satisfied that the extension is appropriate having regard to the interests of justice; and
 (b) before deciding an application for an order under paragraph (a) of this subsection, may grant an interim order, but must not require the applicant to give an undertaking as to damages as a condition for doing so.

Enforcing rights after the stay for reasons relating to earlier circumstances
 (7) The right is unenforceable against the body corporate indefinitely after the end of the stay period to the extent that a reason for seeking to enforce the right:
 (a) is the body corporate's financial position before the end of the stay period; or
 (b) is any of the following:
 (i) the body corporate having come or been under statutory management before the end of the stay period;
 (ii) the Reserve Bank having made, before the end of the stay period, a determination under section 837A that there is to be a transfer of shares in the body corporate;
 (iii) the Reserve Bank having made, before the end of the stay period, a determination under section 837B that there is to be a transfer of business of the body corporate; or
 (iv) the Reserve Bank having given, before the end of the stay period, a direction to the body corporate under subsection 840A(1); or
 (c) is a reason, prescribed by the regulations for the purposes of this paragraph, relating to circumstances in existence before the end of the stay period; or
 (d) is a reason referred to in paragraph (1)(c) of this section or subsection (2).
Note: This result is subject to section 843B.