117Protection of persons dealing with statutory manager

117 Protection of persons dealing with statutory manager

(1) Sections 128 and 129 of the Corporations Act 2001 apply in relation to a body corporate under statutory management as if:

(a) a reference in those sections to that Act were a reference to this Act; and

(b) a reference in those sections to the company, or to an officer of the company, included a reference to the statutory manager of the body corporate; and

(c) a reference in those sections to an assumption referred to in section 129 included a reference to an assumption that the statutory manager is:

(i) acting within the statutory manager’s functions and powers as statutory manager; and

(ii) in particular, complying with this Act.

(2) The effect that sections 128 and 129 of the Corporations Act 2001 have because of subsection (1) of this section is additional to, and does not prejudice, the effect that sections 128 and 129 of that Act otherwise have in relation to a body corporate under statutory management.