505Regulated property not to be attached

505 Regulated property not to be attached (1) Regulated property of a law practice for which a receiver has been appointed (including regulated property held by the receiver) is not liable to be taken, levied on or attached under any judgment, order or process of any court or any other process. (2) This section is declared to be a Corporations legislation displacement provision for the Corporations Act, section 5G (Avoiding direct inconsistency arising between the Corporations legislation and State and Territory laws) in relation to the provisions of that Act, chapter 5. Note Subsection (2) ensures that that any provision of the Corporations Act or with which s (2) would otherwise be inconsistent does not apply to the extent necessary to avoid the inconsistency.