Enforcement of contracts against Home Finance Trustee
42 Enforcement of contracts against Home Finance Trustee
(1) A contract or agreement made by or with the Home Finance Trustee may be enforced:
(a) by and against the Chief Executive Officer (Housing) as if the contract or agreement had been made with the Chief Executive Officer (Housing); or
against the Home Finance Trustee.
(2) Where, in pursuance of subsection (1), a contract is enforceable against the Home Finance Trustee, the Chief Executive Officer (Housing):
(a) may discharge all obligations of the Home Finance Trustee under the contract or agreement; and
(b) may defend any action or resist any arbitration proceeding arising under the contract or agreement; and
(c) guarantees the payment of any moneys ordered or awarded to be paid by the Home Finance Trustee in the action or arbitration proceeding.
This Act’s bill:Second reading speech
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.