Section 844C — Corporations Act 2001: Stay of proceedings

(1) While section 842A applies to a body corporate, a proceeding in a court against the body or in relation to any of its property cannot be begun or proceeded with, except: (a) with the Reserve Bank’s written consent; or (b) with the leave of the Court and in accordance with such terms (if any) as the Court imposes. (2) Subsection (1) does not apply to: (a) a criminal proceeding; or (b) a prescribed proceeding. (3) If a person applies for the leave of the Court under paragraph (1)(b), the person must, in writing, notify the Reserve Bank. (4) The Reserve Bank is entitled to be heard on the application to the Court.