49
CurrentRelated party benefits
49 Related party benefits
(1)
Part 6‑6 of the new Act does not apply in relation to a transitional corporation in relation to a financial benefit if:
(a)
the corporation, or an entity that the corporation controls, is required to give a financial benefit under a contract; and
(b)
the contract was made before commencement; and
(c)
the provisions of the contract dealing with the requirement, or with related matters, have not been modified after commencement.
(2)
In subitem (1):
contract includes deed.
Division 9-Record keeping
This Act’s bill:Explanatory memorandumSecond reading speech
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