65Act prevails over regulated contracts

65 Act prevails over regulated contracts

(1) A provision of a regulated contract or any other agreement is void to the extent that—

(a) it is contrary to or inconsistent with anything in this Act, the regulations, a code of practice or an order made by the Tribunal under Division 4 of Part 5; or

(b) it purports to exclude the application of provisions of this Act or the regulations.

(2) Despite subsection (1), during the period of 6 months beginning on and including the commencement day, a provision of a regulated contract that is contrary to or inconsistent with a provision of Division 3 or 4 of Part 2 prevails to the extent of the inconsistency.

(3) In subsection (2), commencement day means the day on which Division 3 of Part 2 comes into operation.