RESERVE BANK ACT 1959 - SECT 86 Priority of debts due by other ADIs
RESERVE BANK ACT 1959 - SECT 86
Priority of debts due by other ADIs Notwithstanding anything contained in any law relating to the
winding - up of companies, but subject to subsection 13A(3) of the
Banking Act 1959 , debts due to the Bank by an ADI shall, in the winding - up,
have priority over all other debts.