Commonwealth Consolidated Acts

BANKING ACT 1959 - SECT 14CA

                   A transaction of a body corporate is not voidable under section 588FE of the Corporations Act 2001 merely because:

                     (a)  the transaction was entered into at a time when a Banking Act statutory manager was in control of the body corporate's business; and

                     (b)  the transaction is:

                              (i)  an uncommercial transaction (within the meaning of that Act) of the body corporate; or

                             (ii)  an unfair preference (within the meaning of that Act) given by the body corporate to a creditor of the company; or

                            (iii)  an insolvent transaction (within the meaning of that Act) of the body corporate; or

                            (iv)  a creditor-defeating disposition (within the meaning of that Act) by the body corporate.