Document ID: chunk:federal_register_of_legislation:C2025C00185:section:588fg:p2
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 588FG (pt 2/2)
Character Range: 2001196–2002886

to the Commonwealth, or to the Commissioner of Taxation, that arose under or because of an Act of which the Commissioner has the general administration, the discharge is valuable consideration provided by the Commonwealth, or by the Commissioner, as the case requires, under any transaction that consists of, or involves, the payment or application.
 (6) Subsections (3) and (5):
 (a) are to avoid doubt and are not intended to limit the cases where a person may be taken to have provided valuable consideration under a transaction; and
 (b) apply to an amount even if it was paid or applied before the commencement of this Act.

If transaction is creditor‑defeating disposition
 (7) Subsections (1) and (2) do not apply to an order made solely on the grounds of subsection 588FE(6B) applying solely because of subparagraph 588FE(6B)(b)(iii).
 (8) A court is not to make under section 588FF an order solely on the grounds of subsection 588FE(6B) if it is proved that paragraphs 588GA(1)(a) and (b) apply in relation to a person and the disposition. For the purposes of determining whether it is proved that those paragraphs apply in that way:
 (a) subsections 588GA(2) to (7) apply; and
 (b) section 588GB applies as if the proceeding under section 588FF were a relevant proceeding.
 (9) A court is not to make, solely on the grounds of subsection 588FE(6B) (about a creditor‑defeating disposition of property), an order under section 588FF materially prejudicing a right or interest of a person other than a party to the creditor‑defeating disposition if it is proved that the person later acquired the property in good faith.

Subdivision D—ASIC orders about certain voidable transactions