Victorian Consolidated Legislation

Financial Sector Reform (Victoria) Act 1999 - SECT 16

Relationship of Part with other laws

16. Relationship of Part with other laws



(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 partly, 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.

_______________