Commonwealth Consolidated Acts

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BANKING ACT 1959 - SECT 15C

ADI statutory manager being in control not grounds for denial of obligations

                   The fact that an ADI statutory manager is in control of an ADI's business is not a ground for any other party to a contract to which the ADI is a party to deny any obligations under that contract, accelerate any debt under that contract or close out any transaction relating to that contract.


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