(1) Nothing effected
by this Act or done or suffered by Challenge or Westpac under this Act or done
to give effect to this Act —
(a) is
to be regarded as placing either of them in breach of contract or confidence
or as otherwise making either of them guilty of a civil wrong;
(b) is
to be regarded as placing either of them in breach of or as constituting a
default under any written law or other law or any provision in any agreement,
arrangement or understanding including, without limiting the generality of the
foregoing, any provision prohibiting, restricting or regulating the assignment
or transfer of any property or the disclosure of any information;
(c) is
to be regarded as fulfilling any condition which allows a person to terminate
any agreement or liability; or
(d)
releases any surety or other obligee wholly or in part from any liability.
(2) Without limiting
subsection (1) where, but for this subsection, the advice or consent of any
person would be necessary to carry out any action authorised by this Act, that
advice or consent is taken to have been given.