New South Wales Consolidated Acts

FINANCIAL SECTOR REFORM (NEW SOUTH WALES) ACT 1999 - SECT 16

16 Relationship of Part with other instruments

(1) This Part has effect despite anything in a contract, deed, undertaking, agreement or other instrument.

(2) Nothing done under this Part:

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

(b) places a receiving body, a transferring body or another person in breach of:

(i) a law of the State, or

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

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

(3) Without limiting subsection (1), if, 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.