sec.68Illegal financial arrangements

### sec.68 Illegal financial arrangements A person does not have a remedy or right to recover an amount from a statutory body in relation to a financial arrangement (the illegal financial arrangement ) that the body entered into with the person otherwise than under— this Act; or another Act that applies to the body in relation to the arrangement. Subsection (1) does not limit the person’s remedies or rights to recover from any other person, including, for example, the right to recover under another Act that provides that a member of a statutory body may be liable for an illegal financial arrangement. Also, subsection (1) does not apply to a person who entered into a financial arrangement with a statutory body, including an arrangement under which the body created an encumbrance of its property or income, if the person received from the body a document stating that— if the arrangement was entered into under this Act—the Treasurer has approved the body entering into the arrangement and, if an encumbrance was created, creating the encumbrance; or if the arrangement was entered into under another Act that applied to the body—the body has obtained all approvals required under that Act for the body to enter into the arrangement and, if an encumbrance is created, to create the encumbrance. s 68 ins 1996 No. 54 s 8 (sec.68-ssec.1) A person does not have a remedy or right to recover an amount from a statutory body in relation to a financial arrangement (the illegal financial arrangement ) that the body entered into with the person otherwise than under— this Act; or another Act that applies to the body in relation to the arrangement. (sec.68-ssec.2) Subsection (1) does not limit the person’s remedies or rights to recover from any other person, including, for example, the right to recover under another Act that provides that a member of a statutory body may be liable for an illegal financial arrangement. (sec.68-ssec.3) Also, subsection (1) does not apply to a person who entered into a financial arrangement with a statutory body, including an arrangement under which the body created an encumbrance of its property or income, if the person received from the body a document stating that— if the arrangement was entered into under this Act—the Treasurer has approved the body entering into the arrangement and, if an encumbrance was created, creating the encumbrance; or if the arrangement was entered into under another Act that applied to the body—the body has obtained all approvals required under that Act for the body to enter into the arrangement and, if an encumbrance is created, to create the encumbrance. - (a) this Act; or - (b) another Act that applies to the body in relation to the arrangement. - (a) if the arrangement was entered into under this Act—the Treasurer has approved the body entering into the arrangement and, if an encumbrance was created, creating the encumbrance; or - (b) if the arrangement was entered into under another Act that applied to the body—the body has obtained all approvals required under that Act for the body to enter into the arrangement and, if an encumbrance is created, to create the encumbrance.