Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .

PART 7.3B - CRISIS RESOLUTION FOR CS FACILITY LICENSEES  

Division 6 - Moratorium on action during statutory management or compulsory transfer  

Subdivision B - Stay on enforcement rights triggered by statutory management or compulsory transfer  

SECTION 843C   STAY ON BODY CORPORATE ' S RIGHT TO NEW ADVANCE OF MONEY OR CREDIT  

843C(1)    
If:

(a)    one or more rights of an entity cannot be enforced against a body corporate for a period because of subsection 843A(1) or (2) ; and

(b)    the body corporate has a right under an arrangement against the entity for a new advance of money or credit;

that right of the body corporate cannot be enforced during the same period.

843C(2)    
Subsection (1) of this section does not apply to a right of a body corporate if:

(a)    the body corporate is a related body corporate of the entity mentioned in paragraph (1)(a) ; and

(b)    exercising the right:

(i) constitutes, or constitutes part of, default management; or

(ii) constitutes recovery action; or

(iii) constitutes a funding call on the entity.