Section 158 - Cash Distribution Framework Act 2026 - Circumstances where a transaction by statutory manager not voidable under section 588FE of the Corporations Act 2001

158 Circumstances where a transaction by statutory manager not voidable under section 588FE of the Corporations Act 2001

A transaction of a body corporate is not voidable under section 588FE of the Corporations Act 2001 merely because:

(a) the transaction was entered into at a time when this Division applied to the body corporate; and

(b) the transaction is:

(i) an uncommercial transaction (within the meaning of that Act) of the body corporate; or

(ii) an unfair preference (within the meaning of that Act) given by the body corporate to a creditor of the body corporate; or

(iii) an insolvent transaction (within the meaning of that Act) of the body corporate; or

(iv) a creditor‑defeating disposition (within the meaning of that Act) by the body corporate.

158Circumstances where a transaction by statutory manager not voidable under section 588FE of the Corporations Act 2001