Operation of Part not to be regarded as civil wrong
51 Operation of Part not to be regarded as civil wrong
The operation of this Part is not to be regarded as a civil wrong, or—
a breach of contract or confidence or otherwise as a civil wrong, or
a breach of any contractual provision prohibiting, restricting or regulating the assignment or transfer of assets, rights or liabilities, or
giving rise to any remedy by a party to an instrument, or as causing or permitting the termination of any instrument, because of a change in the beneficial or legal ownership of any asset, right or liability, or
an event of default under any contract or other instrument.
Subclause (1) does not limit the application of clause 43 or clause 3 of Schedule 6 in their application to matters arising under or resulting from the operation of this Part.
In this clause—
instrument has the same meaning as in Schedule 6.
This Act’s bill:Explanatory memorandumSecond reading speech
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