Document ID: chunk:federal_register_of_legislation:C2008A00105:clause:5_36aa
Version: federal_register_of_legislation:C2008A00105
Segment Type: clause
Provision Reference: sch 5 cl 36AA
Character Range: 180123–180909

36AA  Compulsory transfer not ground for denying obligation

 (1) This section applies if a body corporate that is, or is proposed to become, a transferring body is or was 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 an act is done for the purposes of Division 2 or 3, or that a certificate of transfer comes into force under Division 3, in connection with the body 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.