Document ID: chunk:federal_register_of_legislation:C2018A00010:clause:3_179au
Version: federal_register_of_legislation:C2018A00010
Segment Type: clause
Provision Reference: sch 3 cl 179AU
Character Range: 332329–333164

179AU  Moratorium—Restrictions on exercise of third party property rights
 (1) Section 440B of the Corporations Act 2001 applies during a period in which a Life Insurance Act statutory manager is in control of a body corporate's business in the same way it applies during the administration of a company.
 (2) For the purposes of this section, treat the reference in paragraph 440B(2)(a) of the Corporations Act 2001 to the administrator's written consent as being a reference to:
 (a) the Life Insurance Act statutory manager's written consent; or
 (b) APRA's written consent.
 (3) Neither APRA nor a Life Insurance Act statutory manager is liable to an action or other proceedings for damages in respect of a refusal to give consent as mentioned in subsection (2).
 (4) This section applies despite sections 179AR, 179AS and 179AT.