Document ID: chunk:federal_register_of_legislation:C2025C00135:section:176
Version: federal_register_of_legislation:C2025C00135
Segment Type: section
Provision Reference: s 176
Character Range: 276352–277546

176  Order of Court on report of judicial manager
 (1) On an application for an order to give effect to a course or courses of action recommended in a report under section 175:
 (a) APRA and any other person interested is entitled to be heard; and
 (b) the Court may make an order giving effect to such course or courses of action as it considers in the circumstances to be most advantageous to the general interest of the owners of policies issued by the life company concerned, while promoting financial system stability in Australia.
 (2) The course or courses of action to which an order may give effect may be one or more of the following:
 (a) one or more of the courses of action set out in subsection 175(2);
 (b) one or more other courses of action.
 (3) An order under this section:
 (a) is binding on all persons; and
 (b) takes effect despite anything in any of the following:
 (i) the Corporations Act 2001 (without limiting the scope of section 251AA of this Act);
 (ii) the constitution or other rules of the company;
 (iii) any contract or arrangement to which the company is party;
 (iv) any listing rules of a financial market in whose official list the company is included.