Document ID: chunk:federal_register_of_legislation:C2018A00010:clause:1_14ca
Version: federal_register_of_legislation:C2018A00010
Segment Type: clause
Provision Reference: sch 1 cl 14CA
Character Range: 70804–71499

14CA  Transaction by Banking Act statutory manager not voidable under section 588FE of the Corporations Act 2001
  A transaction of a body corporate is not voidable under section 588FE of the Corporations Act 2001 merely because:
 (a) the transaction was entered into at a time when a Banking Act statutory manager was in control of the body corporate's business; and
 (b) the transaction is:
 (i) an uncommercial transaction (within the meaning of that Act) of the body corporate; or
 (ii) an unfair preference (within the meaning of that Act) given by the body corporate to a creditor of the company; or
 (iii) an insolvent transaction (within the meaning of that Act) of the body corporate.