103Effect of things done during statutory management of body corporate

103 Effect of things done during statutory management of body corporate

A payment made, transaction entered into, or any other act or thing done, in good faith, by the statutory manager of a body corporate under statutory management or with the written consent of the statutory manager or the Reserve Bank:

(a) is valid and effectual for the purposes of this Act and the Corporations Act 2001; and

(b) is not liable to be set aside in a winding up of the body corporate.