28BCertain contracts with minors to be valid

28B Certain contracts with minors to be valid

S. 28B(1) amended by Nos 9427 s. 5(Sch. 4 item 9), 57/1989 s. 3(Sch. item 166.5(a)).

(1) Notwithstanding anything to the contrary in section 49 of the Supreme Court Act 1986 or in any rule of common law or equity the following contracts, whether entered into before or after the commencement of the Property Law (Loans to Minors) Act 1965 shall be as valid and binding on a minor for all purposes as if the minor were of full age at the time he entered into the contract, namely—

S. 28B(1)(a) amended by No. 9427 s. 5(Sch. 4 item 9).

(a) any contract at any time entered into by a minor member—

S. 28B(1)(a)(i) amended by Nos 9427 s. 6(1)(Sch. 5 item 145), 57/1989 s. 3(Sch. item 166.5(b)).

(i) of a building society registered under the Building Societies Act 1986 or any corresponding previous enactment;

S. 28B(1)(a)(ii) amended by No. 57/1989 s. 3(Sch. item 166.5(c)), substituted by No. 84/1996 s. 467(Sch. 6 item 11.1), amended by No. 9/2013 s. 42(Sch. 2 item 15).

(ii) of a co-operative registered under the Co‑operatives National Law (Victoria) or any corresponding previous enactment;

(iii) of a co-operative housing society registered under the Co-operative Housing Societies Act 1958 or any corresponding previous enactment; and

(iv) of any industrial and provident society registered under the Industrial and Provident Societies Act 1958 or any corresponding previous enactment—

for the repayment of moneys lent or advanced or to be lent or advanced to the minor by any such society;

S. 28B(1)(aa) inserted by No. 7376 s. 2, amended by No. 9427 s. 5(Sch. 4 item 9).

(aa) any contract at any time entered into by a minor—

S. 28B(1)(aa)(i) amended by Nos 9427 s. 6(1)(Sch. 5 item 145), 57/1989 s. 3(Sch. item 166.5(d)).

(i) with a building society registered under the Building Societies Act 1986 or any corresponding previous enactment; or

(ii) with an industrial and provident society registered under the Industrial and Provident Societies Act 1958 or any corresponding previous enactment—

for the repayment of moneys lent or advanced or to be lent or advanced to the minor by any such society;

S. 28B(1)
(b)–(e) repealed by No. 9075 s. 5(2).

S. 28B(2) amended by Nos 9075 s. 5(1)(2), 9427 s. 5(Sch. 4 item 9).

(2) A minor who has entered into any contract referred to in the last preceding subsection, whether before or after the commencement of the , shall not at any time be entitled on any ground relating to his minority or former minority to avoid any of his obligations under the contract or under any instrument executed by the minor whereby the repayment of any moneys lent or advanced is secured or to repudiate any contract transfer conveyance or assignment relating to any property charged by any such instrument.