sec.63Conditions waiving immunity, rules of contract etc.

### sec.63 Conditions waiving immunity, rules of contract etc. A document forming part of a financial arrangement entered into under this Act by a statutory body may include a provision— waiving an immunity of the body, if any, from proceedings under an Act or rule of law; and continuing in force a condition requiring the body to make a payment, despite an event that would or might at law— otherwise end, or permit the ending of, the arrangement; or excuse compliance with, or performance of, the arrangement; or provide a defence to a proceeding to enforce the arrangement. Also, the document may include a provision that the financial arrangement must not be ended because of a matter or thing, or is enforceable despite a matter or thing, including, for example, a default, an event amounting to an irresistible compulsion or coercion or another event that would, or might at law— otherwise end, or permit the ending of, the arrangement; or excuse compliance with, or performance of, the arrangement; or provide a defence to a proceeding to enforce the arrangement. The provisions mentioned in subsections (1) and (2) operate in accordance with their terms, despite an Act or rule of law to the contrary, but are subject to an express provision of the arrangement. s 63 ins 1996 No. 54 s 8 amd 1999 No. 19 s 3 sch (sec.63-ssec.1) A document forming part of a financial arrangement entered into under this Act by a statutory body may include a provision— waiving an immunity of the body, if any, from proceedings under an Act or rule of law; and continuing in force a condition requiring the body to make a payment, despite an event that would or might at law— otherwise end, or permit the ending of, the arrangement; or excuse compliance with, or performance of, the arrangement; or provide a defence to a proceeding to enforce the arrangement. (sec.63-ssec.2) Also, the document may include a provision that the financial arrangement must not be ended because of a matter or thing, or is enforceable despite a matter or thing, including, for example, a default, an event amounting to an irresistible compulsion or coercion or another event that would, or might at law— otherwise end, or permit the ending of, the arrangement; or excuse compliance with, or performance of, the arrangement; or provide a defence to a proceeding to enforce the arrangement. (sec.63-ssec.3) The provisions mentioned in subsections (1) and (2) operate in accordance with their terms, despite an Act or rule of law to the contrary, but are subject to an express provision of the arrangement. - (a) waiving an immunity of the body, if any, from proceedings under an Act or rule of law; and - (b) continuing in force a condition requiring the body to make a payment, despite an event that would or might at law— (i) otherwise end, or permit the ending of, the arrangement; or (ii) excuse compliance with, or performance of, the arrangement; or (iii) provide a defence to a proceeding to enforce the arrangement. - (i) otherwise end, or permit the ending of, the arrangement; or - (ii) excuse compliance with, or performance of, the arrangement; or - (iii) provide a defence to a proceeding to enforce the arrangement. - (i) otherwise end, or permit the ending of, the arrangement; or - (ii) excuse compliance with, or performance of, the arrangement; or - (iii) provide a defence to a proceeding to enforce the arrangement. - (a) otherwise end, or permit the ending of, the arrangement; or - (b) excuse compliance with, or performance of, the arrangement; or - (c) provide a defence to a proceeding to enforce the arrangement.