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SUPERANNUATION ADMINISTRATION CORPORATION (PILLAR) (AUTHORISED TRANSACTION) ACT 2016 - SECT 29
Protection against breach of contractual and other obligations
29 Protection against breach of contractual and other obligations
(1) The following matters and things are protected by this section: (a) the
operation of this Act (including any regulation or order under this Act),
(b)
the transfer of Pillar assets for the purposes of the authorised transaction,
(c) the entering into or performance of obligations under a transaction,
agreement or other arrangement for the purposes of the authorised transaction,
(d) a disclosure of information by, on behalf of or with the consent of a
public sector agency for the purposes of the authorised transaction,
(e)
anything else done or omitted to be done under or for the purposes of this Act
or the authorised transaction.
(2) None of the matters or things protected by
this section are to be regarded as: (a) a breach of contract or confidence or
otherwise as a civil wrong, or
(b) a breach of any instrument (including,
without limitation, any provision prohibiting, restricting or regulating the
assignment or transfer of assets, rights or liabilities) or as requiring any
act to be done under an instrument, or
(c) giving rise to any right or remedy
by a party to a contract or other instrument, or as causing or permitting the
termination of, or exercise of rights under, any contract or other instrument,
or
(d) an event of default under any contract or other instrument, or
(e)
giving rise to a breach of or an offence against a provision of an Act that
prohibits or restricts the disclosure of information, or
(f) releasing a
surety or other obligee wholly or in part from an obligation.
(3) This
section does not affect rights and obligations that arise under a transaction,
agreement or other arrangement entered into for the purposes of the authorised
transaction.
(4) In this section:
"instrument" means an instrument (other than an instrument made under this
Act) or any other document that creates, modifies or extinguishes rights or
liabilities (or would do so if lodged, filed or registered in accordance with
any law), and includes any judgment, order, process or other instrument issued
by a court or tribunal.
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