New South Wales Consolidated Acts

BANK INTEGRATION ACT 1992 - SECT 22

22 Act to have effect despite other laws

(1) This Act has effect in spite of anything in any contract, deed, undertaking, agreement or other instrument.

(2) Nothing done by or under this Act:

(a) places the receiving bank, the transferring bank or another person in breach of contract or confidence or otherwise makes any of them guilty of a civil wrong, or

(b) places the receiving bank, the transferring bank or another person in breach of:

(i) any law of New South Wales, or

(ii) any contractual provision prohibiting, restricting or regulating the assignment or transfer of any asset or liability or the disclosure of any information, or

(c) releases any surety, wholly or partly, from all or any of the surety’s obligations.

(3) Without limiting subsection (1), where, apart from this section, the advice or consent of a person would be necessary in a particular respect, the advice is taken to have been obtained or the consent is taken to have been given, as the case requires.