Commonwealth Consolidated Acts

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LIFE INSURANCE ACT 1995 - SECT 161B

Moratorium--effect of judicial management on disposal of property

  (1)   A person must not dispose of property if:

  (a)   the property is owned by another person; and

  (b)   the other person is a life company; and

  (c)   the life company is under judicial management.

Note:   The Court may grant an injunction under section   235 in respect of a contravention of this subsection.

  (2)   Subsection   (1) does not apply if the judicial manager consents to the disposal.

  (3)   The judicial manager is not liable to an action or other proceedings for damages in respect of a refusal to give consent under subsection   (2).

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