Victorian Current Acts Victorian Current ActsS. 31C(1) amended by No. 44/2022 s. 4(1).
(1) A freezing order is an order that a financial institution must not allow a person to transact in relation to a specified account—
(a) that is held in the person's name or in the name of the person and another person; or
(b) in which the person has an interest—
except in the manner and circumstances (if any) specified in the order.
S. 31C(2) substituted by No. 44/2022 s. 4(2).
(2) Despite subsection (1), a financial institution may accept deposits into an account in relation to which the freezing order was made after the order takes effect.
S. 31C(2A) inserted by No. 44/2022 s. 4(2).
(2A) For the purposes of a freezing order, any money or digital asset deposited into the account after the freezing order was made is subject to the freezing order.
(3) A freezing order does not prevent a financial institution from making withdrawals from an account for the purpose of meeting a liability imposed on the financial institution in connection with that account by any law of the State or the Commonwealth.
S. 31D inserted by No. 63/2003 s. 10.