91
In forceStay of proceedings during judicial trusteeship
Part VIILloyd’s
Division 5Judicial trusteeship of designated security trust funds
91 Stay of proceedings during judicial trusteeship
(1)
While a designated security trust fund is under judicial trusteeship, a proceeding in a court against the trustee of the fund or in relation to any of the property of the fund cannot be proceeded with, except:
(a)
with the judicial trustee’s written consent; or
(b)
with the leave of the Federal Court and in accordance with such terms (if any) as the Federal Court imposes.
(2)
Subsection (1) does not apply to a proceeding in respect of an offence.
(3)
A judicial trustee is not subject to any liability in respect of a refusal to give a consent for the purposes of subsection (1).
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