Arrangements that are legally binding under foreign law
31 Arrangements that are legally binding under foreign law
If:
a core State/Territory entity enters an arrangement with a core foreign entity in contravention of subsection 22(1); and
the arrangement is legally binding under a foreign law;
then this section applies to the arrangement.
After entering the arrangement, the core State/Territory entity must:
within 14 days, or such longer period (if any) prescribed by the rules:
notify the core foreign entity that this section applies to the arrangement; and
take steps to terminate the arrangement in accordance with the foreign law; and
as soon as practicable after it has complied with paragraph (a), notify the Minister, in writing, of its compliance with that paragraph.
The core State/Territory entity must not, at any time:
give effect to the arrangement; or
hold out, or conduct itself on the basis, that it can give effect to the arrangement.
The core foreign entity must not, from the time it is notified under subsection (2) that this section applies to the arrangement:
give effect to the arrangement in Australia; or
hold out in Australia, or conduct itself in Australia on the basis, that it can give effect to the arrangement.
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