sch.1-sec.51Effect on legal relationships

### sch.1-sec.51 Effect on legal relationships Nothing done under the amendments to the QBSA Act under the amending Act (the Act amendments )— makes a relevant entity in breach of any instrument, including an instrument prohibiting, restricting or regulating the assignment, novation or transfer of a right or liability or the disclosure of information; or except as provided for under the Act amendments, is taken to fulfil a condition that— terminates, or allows a person to terminate, an instrument or obligation; or modifies, or allows a person to modify, the operation or effect of an instrument or obligation; or allows a person to avoid or enforce an obligation or liability contained in an instrument or requires a person to perform an obligation contained in an instrument; or requires any money to be paid before its stated maturity; or releases a surety or other obligee, wholly or partly, from an obligation. If, apart from this subsection, the advice, consent or approval of a person would be necessary to do something under the Act amendments, the advice is taken to have been obtained or the consent or approval is taken to have been given unconditionally. If, apart from this Act, giving notice to a person would be necessary to do something under the Act amendments, the notice is taken to have been given. In this section— relevant entity means— the State or an employee or agent of the State; or the commission, a member or a relevant officer of the commission. sch 1 s 51 ins 2013 No. 38 s 10 (sch.1-sec.51-ssec.1) Nothing done under the amendments to the QBSA Act under the amending Act (the Act amendments )— makes a relevant entity in breach of any instrument, including an instrument prohibiting, restricting or regulating the assignment, novation or transfer of a right or liability or the disclosure of information; or except as provided for under the Act amendments, is taken to fulfil a condition that— terminates, or allows a person to terminate, an instrument or obligation; or modifies, or allows a person to modify, the operation or effect of an instrument or obligation; or allows a person to avoid or enforce an obligation or liability contained in an instrument or requires a person to perform an obligation contained in an instrument; or requires any money to be paid before its stated maturity; or releases a surety or other obligee, wholly or partly, from an obligation. (sch.1-sec.51-ssec.2) If, apart from this subsection, the advice, consent or approval of a person would be necessary to do something under the Act amendments, the advice is taken to have been obtained or the consent or approval is taken to have been given unconditionally. (sch.1-sec.51-ssec.3) If, apart from this Act, giving notice to a person would be necessary to do something under the Act amendments, the notice is taken to have been given. (sch.1-sec.51-ssec.4) In this section— relevant entity means— the State or an employee or agent of the State; or the commission, a member or a relevant officer of the commission. - (a) makes a relevant entity in breach of any instrument, including an instrument prohibiting, restricting or regulating the assignment, novation or transfer of a right or liability or the disclosure of information; or - (b) except as provided for under the Act amendments, is taken to fulfil a condition that— (i) terminates, or allows a person to terminate, an instrument or obligation; or (ii) modifies, or allows a person to modify, the operation or effect of an instrument or obligation; or (iii) allows a person to avoid or enforce an obligation or liability contained in an instrument or requires a person to perform an obligation contained in an instrument; or (iv) requires any money to be paid before its stated maturity; or - (i) terminates, or allows a person to terminate, an instrument or obligation; or - (ii) modifies, or allows a person to modify, the operation or effect of an instrument or obligation; or - (iii) allows a person to avoid or enforce an obligation or liability contained in an instrument or requires a person to perform an obligation contained in an instrument; or - (iv) requires any money to be paid before its stated maturity; or - (c) releases a surety or other obligee, wholly or partly, from an obligation. - (i) terminates, or allows a person to terminate, an instrument or obligation; or - (ii) modifies, or allows a person to modify, the operation or effect of an instrument or obligation; or - (iii) allows a person to avoid or enforce an obligation or liability contained in an instrument or requires a person to perform an obligation contained in an instrument; or - (iv) requires any money to be paid before its stated maturity; or - (a) the State or an employee or agent of the State; or - (b) the commission, a member or a relevant officer of the commission.