The common law and equitable principles requiring good faith between creditors in a composition, which render void secret bargains giving a creditor an additional benefit, continue to apply under Part 5.3A of the Corporations Law, but only where the benefit is given by or on behalf of the debtor company. A benefit offered by a third-party purchaser of the company's assets, for its own commercial purposes and without the debtor's knowledge or acquiescence, does not engage the principle and is not void for illegality.
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