Operation of div 9.6 not breach of contract etc
117 Operation of div 9.6 not breach of contract etc
To remove any doubt, the operation of this division must not be taken to—
place a person in breach of contract or confidence; or
otherwise make a person guilty of a civil wrong; or
place a person in breach of, or create a default under, any territory law or provision in an agreement, arrangement or understanding, including, for example, a contractual provision prohibiting, restricting or regulating the following:
the assignment or transfer of an asset, right or liability;
the disclosure of information; or
release a surety from any of surety’s liabilities in relation to a liability that is transferred under a declaration made by a Minister under this division; or
fulfil a condition that—
allows an entity to terminate an agreement or liability; or
alters the operation or effect of an agreement; or
requires an amount to be paid before its stated maturity.
This Act’s bill:Explanatory statement
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