33ZCPart to have effect in spite of laws and agreements prohibiting transfer etc.

33ZC Part to have effect in spite of laws and agreements prohibiting transfer etc.

(1) This Part has effect, and must be given effect to, in spite of anything in: (a) any other law of the Commonwealth or any law of a State or Territory; or (b) any contract, deed, undertaking, agreement or other instrument. (2) No provision of this Part, and nothing done by a person because of, or for a purpose connected with or arising out of, this Part: (a) is to be regarded as: (i) placing the Authority, a subsidiary of the Authority or another person in breach of contract or confidence; or (ii) otherwise making the Authority, a subsidiary of the Authority or another person guilty of a civil wrong; or (b) is to be regarded as placing the Authority, a subsidiary of the Authority or another person in breach of: (i) any law of the Commonwealth or of a State or Territory; or (ii) any contractual provision prohibiting, restricting or regulating the assignment or transfer of any asset or liability or the disclosure of any information; or (c) is to be taken to release any surety from any of the surety’s obligations. (3) Without limiting subsection (1), if, apart from this section, the consent of a person would be necessary in order to give effect to this Part in a particular respect, the consent is taken to have been given.