Div 4Consequences of unlawfully entering core foreign arrangements

Division 4—Consequences of unlawfully entering core foreign arrangements

Subdivision A—Effect on legally binding arrangements

30  Arrangements that purport to be legally binding under Australian law

 (a) a core State/Territory entity enters an arrangement with a core foreign entity in contravention of subsection 22(1); and

 (b) the arrangement purports to be legally binding under an Australian law;

 (2) The arrangement is, and is taken to have always been, invalid and unenforceable.

 (i) this section applies to the arrangement; and

 (ii) the arrangement is, and is taken to have always been, invalid and unenforceable; and

 (b) as soon as practicable after it has complied with paragraph (a), notify the Minister, in writing, of its compliance with that paragraph.

 (4) The core State/Territory entity must not, at any time:

 (5) The core foreign entity must not, from the time it is notified under subsection (3) that this section applies to the arrangement:

31  Arrangements that are legally binding under foreign law

 (a) a core State/Territory entity enters an arrangement with a core foreign entity in contravention of subsection 22(1); and

 (b) the arrangement is legally binding under a foreign law;

 (2) After entering the arrangement, the core State/Territory entity must:

 (a) within 14 days, or such longer period (if any) prescribed by the rules:

 (i) notify the core foreign entity that this section applies to the arrangement; and

 (ii) take steps to terminate the arrangement in accordance with the foreign law; and

 (b) as soon as practicable after it has complied with paragraph (a), notify the Minister, in writing, of its compliance with that paragraph.

 (3) The core State/Territory entity must not, at any time:

 (b) hold out, or conduct itself on the basis, that it can give effect to the arrangement.

 (4) The core foreign entity must not, from the time it is notified under subsection (2) that this section applies to the arrangement:

 (b) hold out in Australia, or conduct itself in Australia on the basis, that it can give effect to the arrangement.

Subdivision B—Effect on non‑legally binding arrangements