41FEffect of termination of contract

41F Effect of termination of contract

41F Effect of termination of contract

(1) If a contract is terminated under this Part—

(a) the termination does not affect a right acquired, or a liability incurred, before that termination by a person who was a party to the contract, as a result of the performance before that termination of any obligation imposed by the contract, and

(b) no liability for breach of contract is incurred by a person who was a party to the contract by reason only of that termination, and

(c) no liability is incurred by the Crown or the Secretary by reason of that termination.

(2) Subject to subsection (1) (a), a party to a contract terminated under this Part must not give any further effect to any part of the contract.

Maximum penalty—20 penalty units.

(3) This section extends to a contract that is declared void under this Part, and accordingly a reference in this section to the termination of a contract includes a reference to a contract that has been so declared.

s 41F: Ins 2003 No 93, Sch 1 [9]. Am 2006 No 103, Sch 1 [34] [36]. Subst 2018 No 10, Sch 1 [14].

pt 4A, div 3: Ins 2003 No 93, Sch 1 [9]. Rep 2006 No 103, Sch 1 [38].