Effect of out‑of‑jurisdiction compromise or arrangement
362 Effect of out‑of‑jurisdiction compromise or arrangement
A compromise or arrangement that is binding on any creditors of a participating co‑operative because of a provision of the law of another State or a Territory that corresponds to this Part is also binding on the creditors of the participating co‑operative whose debts are recoverable by action in a court of this State.
If a court of another State or a Territory makes an order under a provision of the law of that State or Territory that is prescribed by the regulations as corresponding to a provision of this Part, the order is taken to have been made by the Supreme Court of Western Australia under the corresponding provision of this Act and has effect and may be enforced accordingly.
[Section 362 amended: No. 7 of 2016 s. 199.]
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