3Crown subject to State and Territory laws with respect to priority

#### 3 Crown subject to State and Territory laws with respect to priority Notwithstanding any prerogative right or privilege of the Crown in right of the Commonwealth, the Crown in right of the Commonwealth is subject to any provision of a law of a State or Territory: (a) relating to the order in which debts or liabilities of a body (whether corporate or unincorporate) are to be paid or discharged; (b) relating to the avoidance of preferences received by creditors of a body (whether corporate or unincorporate); or (c) relating to the effect on creditors or members of a body (whether corporate or unincorporate) of a compromise or arrangement between the body and another person or other persons.