115Supply of essential services

115 Supply of essential services

(1) If:

(a) a statutory manager of a body corporate requests, or authorises someone else to request, a person or authority (the supplier) to supply an essential service to the body corporate in Australia; and

(b) the body corporate owes an amount to the supplier in respect of supply of the essential service before the effective day;

the supplier must not:

(c) refuse to comply with the request for the reason only that the amount is owing; or

(d) make it a condition of the supply of the essential service pursuant to the request that the amount is to be paid.

Note: An injunction may be granted under Part 7 of the Regulatory Powers Act in respect of a contravention of this subsection: see section 186.

(2) In this section:

effective day, in relation to a body corporate that is under statutory management, is the day the body corporate began to be under statutory management.

essential service means:

(a) an essential service within the meaning of the Corporations Act 2001; or

(b) a thing specified in an instrument under subsection (3).

(3) The Reserve Bank may, by legislative instrument, make a determination specifying a thing for the purposes of paragraph (b) of the definition of essential service in subsection (2).