s 62PC
In forceMoratorium—Restrictions on exercise of third party property rights
Part VBJudicial management, statutory management, other external administration and winding up
Division 1Judicial management of general insurers
62PC Moratorium—Restrictions on exercise of third party property rights
(1)
Section 440B of the Corporations Act 2001 applies during a period in which a general insurer is under judicial management in the same way it applies during the administration of a company.
(2)
For the purposes of this section, treat the reference in paragraph 440B(2)(a) of the Corporations Act 2001 to the administrator’s written consent as being a reference to the judicial manager’s written consent.
(3)
The judicial manager is not liable to an action or other proceedings for damages in respect of a refusal to give consent as mentioned in subsection (2).
(4)
This section applies despite sections 62P, 62PA and 62PB.
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