15BCMoratorium—restrictions on exercise of third party property rights

15BC Moratorium—restrictions on exercise of third party property rights

(1) Section 440B of the Corporations Act 2001 applies during a period in which a Banking Act statutory manager is in control of a body corporate’s business in the same way it applies during the administration of a company. (2) For the purposes of this section, treat the reference in paragraph 440B(2)(a) of the Corporations Act 2001 to the administrator’s written consent as being a reference to: (a) the Banking Act statutory manager’s written consent; or (b) APRA’s written consent. (3) Neither APRA nor a Banking Act statutory manager is liable to an action or other proceedings for damages in respect of a refusal to give consent as mentioned in subsection (2). (4) This section applies despite sections 15B, 15BA and 15BB. (5) This section has effect subject to section 31B.