Australian Capital Territory Repealed Acts Australian Capital Territory Repealed ActsThis legislation has been repealed.
(1) If a proposed compromise or arrangement is between a cooperative and any of its creditors and no order has been made or resolution passed for the winding-up of the cooperative, the Supreme Court may restrain further proceedings in any action or other civil proceeding against the cooperative except by leave of the Supreme Court and subject to the conditions that the Supreme Court imposes.
(2) The Supreme Court's power under this section is in addition to any of its other powers and may only be exercised on application by the cooperative or a creditor or member of the cooperative.