Document ID: chunk:federal_register_of_legislation:C2018A00010:clause:2_62zb
Version: federal_register_of_legislation:C2018A00010
Segment Type: clause
Provision Reference: sch 2 cl 62ZB
Character Range: 144610–145595

62ZB  Act under section 62Z not ground for denial of obligations
 (1) This section applies if a body corporate is party to a contract, whether the proper law of the contract is:
 (a) Australian law (including the law of a State or Territory); or
 (b) law of a foreign country (including the law of part of a foreign country).
 (2) None of the matters mentioned in subsection (3) allows the contract, or a party to the contract (other than the body corporate), to do any of the following:
 (a) deny any obligations under the contract;
 (b) accelerate any debt under the contract;
 (c) close out any transaction relating to the contract;
 (d) enforce any security under the contract.
 (3) The matters are as follows:
 (a) a judicial manager doing an act under subsection 62Z(1) relating to the body corporate;
 (b) if the body corporate is a member of a relevant group of bodies corporate—a judicial manager doing an act under subsection 62Z(1) relating to another member of the group.