Moratorium—Restrictions on exercise of third party property rights
62ZOU Moratorium—Restrictions on exercise of third party property rights
Section 440B of the Corporations Act 2001 applies during a period in which an Insurance Act statutory manager is in control of a body corporate’s business in the same way it applies during the administration of a company.
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 Insurance Act statutory manager’s written consent; or
APRA’s written consent.
Neither APRA nor an Insurance Act statutory manager is liable to an action or other proceedings for damages in respect of a refusal to give consent as mentioned in subsection (2).
This section applies despite sections 62ZOR, 62ZOS and 62ZOT.
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