Commonwealth Consolidated Acts

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INSURANCE ACT 1973 - SECT 91

Stay of proceedings during judicial trusteeship

  (1)   While a designated security trust fund is under judicial trusteeship, a proceeding in a court against the trustee of the fund or in relation to any of the property of the fund cannot be proceeded with, except:

  (a)   with the judicial trustee's written consent; or

  (b)   with the leave of the Federal Court and in accordance with such terms (if any) as the Federal Court imposes.

  (2)   Subsection   (1) does not apply to a proceeding in respect of an offence.

  (3)   A judicial trustee is not subject to any liability in respect of a refusal to give a consent for the purposes of subsection   (1).


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