Document ID: chunk:federal_register_of_legislation:C2008A00105:clause:4_168c
Version: federal_register_of_legislation:C2008A00105
Segment Type: clause
Provision Reference: sch 4 cl 168C
Character Range: 161303–161964

168C  Act under section 168A not ground for denying obligation

 (1) This section applies if a life company is party to a contract, whether the proper law of the contract is Australian law (including the law of a State or Territory) or law of a foreign country (including the law of part of a foreign country).

 (2) The fact that a judicial manager does an act under subsection 168A(1) relating to the life company does not allow the contract, or any other party to the contract, to do any of the following:
 (a) deny any obligations under that contract;
 (b) accelerate any debt under that contract;
 (c) close out any transaction relating to that contract.