Document ID: chunk:federal_register_of_legislation:C2025C00185:section:842a
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 842A
Character Range: 3335574–3337139

842A  Circumstances to which moratorium is relevant
 (1) For the purposes of this Division, this section begins to apply to a body corporate if:
 (a) the body corporate begins to be under statutory management; or
 (b) the Reserve Bank makes a determination under section 837A that there is to be a transfer of shares in the body corporate; or
 (c) the Reserve Bank makes a determination under section 837B that there is to be a transfer of business of the body corporate; or
 (d) the Reserve Bank gives a direction to the body corporate under subsection 840A(1).
 (2) This section ceases to apply to a body corporate at the earliest time, occurring after this section begins to apply to the body corporate, at which:
 (a) the body corporate is not under statutory management; and
 (b) for each determination (if any) the Reserve Bank has made under section 837A that there is to be a transfer of shares in the body corporate, or under section 837B that there is to be a transfer of business of the body corporate:
 (i) a certificate issued under section 838A that the transfer is to take effect is in force; or
 (ii) a determination made under section 837F that the transfer is not to take effect is in force; and
 (c) no direction (if any) given to the body corporate under subsection 840A(1) remains in force.
 (3) To avoid doubt, subsection (2) does not prevent this section from subsequently beginning to apply to the body corporate again under subsection (1).

Subdivision B—Stay on enforcement rights triggered by statutory management or compulsory transfer