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 15BD   Moratorium - effect of Banking Act statutory management on supply of essential services  

(1)  
If:


(a) a Banking Act statutory manager is in control of a body corporate ' s business; and


(b) the Banking Act statutory manager requests, or authorises someone else to request, a person or authority (the supplier ) to supply an essential service to the body corporate in Australia; and


(c) the body corporate owes an amount to the supplier in respect of the supply of the essential service before the day on which the Banking Act statutory manager took control of the body corporate ' s business;

the supplier must not:


(d) refuse to comply with the request for the reason only that the amount is owing; or


(e) make it a condition of the supply of the essential service pursuant to the request that the amount is to be paid.

Note:

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

(2)  
In this section:

essential service
has the same meaning as in section 600F of the Corporations Act 2001 .




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