119
CurrentPermitted conflict transactions
Part 5Administration (missing person) orders
Division 4Duties of administrators under administration (missing person) orders
119 Permitted conflict transactions
(1)
An administrator may enter into a transaction prohibited by section 118(1) if VCAT authorises the administrator at or before the time of the transaction to enter into—
(a)
the transaction; or
(b)
a transaction of a similar nature; or
(c) any transaction prohibited by section 118(1).
(2)
Despite section 118(1), VCAT may validate a transaction prohibited under that section.
(3)
A transaction validated under subsection (2) is taken to be valid from the time it was entered into.
This Act’s bill:Explanatory memorandumSecond reading speech
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