Document ID: chunk:federal_register_of_legislation:C2008A00115:clause:1_90uj
Version: federal_register_of_legislation:C2008A00115
Segment Type: clause
Provision Reference: sch 1 cl 90UJ
Character Range: 112117–113919

90UJ  When financial agreements are binding

 (1) A Part VIIIAB financial agreement (other than an agreement covered by section 90UE) is binding on the parties to the agreement if, and only if:
 (a) the agreement is signed by all parties; and
 (b) the agreement contains, in relation to each spouse party to the agreement, a statement to the effect that the party to whom the statement relates has been provided, before the agreement was signed by him or her, as certified in an annexure to the agreement, with independent legal advice from a legal practitioner as to the following matters:
 (i) the effect of the agreement on the rights of that party;
 (ii) the advantages and disadvantages, at the time that the advice was provided, to the party of making the agreement; and
 (c) the annexure to the agreement contains a certificate signed by the person providing the independent legal advice stating that the advice was provided; and
 (d) the agreement has not been terminated and has not been set aside by a court; and
 (e) after the agreement is signed, the original agreement is given to one of the spouse parties and a copy is given to each of the other parties.

Note: For the manner in which the contents of a financial agreement may be proved, see section 48 of the Evidence Act 1995.

 (2) A Part VIIIAB financial agreement covered by section 90UE is binding on the parties to the agreement if, and only if, the agreement has not been terminated and has not been set aside by a court.

 (3) A Part VIIIAB financial agreement ceases to be binding if, after making the agreement, the parties to the agreement marry each other.

 (4) A court may make such orders for the enforcement of a Part VIIIAB financial agreement that is binding on the parties to the agreement as it thinks necessary.