Banking Act 1959

Part II - Provisions relating to the carrying on of banking business  

Division 2 - Protection of depositors  

Subdivision B - Provisions dealing with control of a body corporate ' s business by a Banking Act statutory manager  

SECTION 15BB   Moratorium - effect of Banking Act statutory management on disposal of property  

A person must not dispose of property if:

(a) the property is owned by another person; and

(b) the other person is a body corporate; and

(c) a Banking Act statutory manager is in control of the body corporate ' s business.


The Federal Court of Australia may grant an injunction under section 65A in respect of a contravention of this subsection.

Subsection (1) does not apply if:

(a) APRA consents to the disposal; or

(b) the Banking Act statutory manager consents to the disposal.

Neither APRA nor the Banking Act statutory manager is liable to an action or other proceedings for damages in respect of a refusal to give consent under subsection (2).

This section has effect subject to section 31B .

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