Corporations Act 2001
Sections and provisions with full text and the judgments that cite each one.
Section 840B — Matters relating to Reserve Bank directions—manage or respond to crisis
Variation or revocation (1) The Reserve Bank may, in writing, vary a direction given to a person under subsection 840A(1) if the Reserve Bank reasonably believes that the direction, as varied, would…
Section 840C — Directions to manage or respond to crisis—relationship with other provisions
If a direction under subsection 840A(1) directs a CS facility licensee to change any of the facility’s operating rules or procedures, neither of the following provisions apply in relation to the…
Section 841A — Reserve Bank’s directions power—information to assist crisis management
(1) The Reserve Bank may, in writing, direct a person to give the Reserve Bank specified information, specified documents, or documents containing specified information, relating to the business of a…
Section 841B — Matters relating to Reserve Bank directions—information to assist crisis management
Variation or revocation (1) The Reserve Bank may vary a direction given to a person under subsection 841A(1) if paragraphs 841A(1)(b) and (c) would apply in relation to the direction as varied. (2)…
Section 842A — Circumstances to which moratorium is relevant
(1) For the purposes of this Division, this section begins to apply to a body corporate if: (a) the body corporate begins to be under statutory management; or (b) the Reserve Bank makes a…
Section 843A — Stay on enforcing rights merely because the body corporate is under statutory management or subject to a transfer determination
Stay on enforcing rights (1) A right cannot be enforced against a body corporate for: (a) the reason that: (i) the body corporate has come or is under statutory management; or (ii) the Reserve Bank…
Section 843B — Exceptions
(1) Subsection 843A(1), (2) or (7) does not apply to enforcing a right against a body corporate if the right is: (a) a right under an arrangement entered into after the body corporate comes under…
Section 843C — Stay on body corporate’s right to new advance of money or credit
(1) If: (a) one or more rights of an entity cannot be enforced against a body corporate for a period because of subsection 843A(1) or (2); and (b) the body corporate has a right under an arrangement…
Section 843D — Self-executing provisions
(1) The object of subsection (2) is to ensure that a self-executing provision: (a) cannot start to apply against a body corporate for certain reasons; and (b) can be the subject of a Court order…
Section 843E — When other laws prevail—certain other Commonwealth Acts
If there is any inconsistency between sections 843A to 843D and one of the following Acts, that Act prevails to the extent of the inconsistency: (a) the Anti-Money Laundering and Counter-Terrorism…
Section 843F — Circumstances where a transaction by statutory manager not voidable under section 588FE
A transaction of a body corporate is not voidable under section 588FE merely because: (a) the transaction was entered into at a time when section 842A applied to the body corporate; and (b) the…
Section 844A — Winding up body corporate
(1) While section 842A applies to a body corporate, it cannot be wound up voluntarily. (2) The Court is to adjourn the hearing of an application for an order to wind up a body corporate while section…
Section 844B — Restrictions on exercise of third party property rights
General rule (1) Subject to subsection (2) of this section, while section 842A applies to a body corporate, the restrictions set out in the following table apply in relation to the exercise of the…
Section 844C — 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…
Section 844D — Reserve Bank and statutory manager not liable in damages for refusing consent
The Reserve Bank or a statutory manager of a body corporate is not liable to an action or other proceeding for damages in respect of a refusal to give an approval or consent for the purposes of this…
Section 844E — Suspension of enforcement process
(1) While section 842A applies to a body corporate, no enforcement process in relation to property of the body corporate can be begun or proceeded with, except: (a) with the leave of the Court; and…
Section 844F — Duties of court officer in relation to property of a body corporate
(1) This section applies if an officer of a court (in this section called the court officer), being: (a) a sheriff; or (b) the registrar or other appropriate officer of the court; receives written…
Section 845A — General power to make orders
(1) The Court may make such orders as it thinks appropriate about how this Division is to operate in relation to a particular body corporate. (2) An order may be made subject to conditions. (3) An…
Section 846A — Authorising arrangements for the purposes of crisis resolution
Authorising the making of arrangements (1) If one or more conditions in section 831A are satisfied in relation to a CS facility licensee, the Minister may, by legislative instrument and with the…
Section 846B — Appropriation of Consolidated Revenue Fund
The Consolidated Revenue Fund is appropriated for the purposes of making a payment under an arrangement authorised under section 846A.
Section 847A — Reserve Bank may recognise crisis resolution of foreign operator of a clearing and settlement facility
(1) Subject to subsection (6), the Reserve Bank may take action in accordance with this Part in relation to a CS facility licensee whose licence was granted under subsection 824B(2) (overseas…
Section 848A — Determinations that information is covered by secrecy provision
(1) The Reserve Bank may determine, in writing, that specified information is covered by this subsection if: (a) the information is: (i) information that reveals the fact that a specified direction…
Section 848B — Variation or revocation of determinations
(1) The Reserve Bank may, in writing, vary a determination made under subsection 848A(1) if paragraphs 848A(1)(a) and (b) would apply in relation to the direction as varied. (2) The Reserve Bank may,…
Section 848C — Prohibition on disclosing information covered by secrecy provision
Offence (1) A person must not disclose information if: (a) the information is covered by a determination made under subsection 848A(1); and (b) the person is, or has been, covered by subsection (2)…
Section 848D — Disclosure of publicly available information
A person covered by subsection 848C(2) in relation to information may disclose the information, to the extent that the information has already been lawfully made available to the public.
Section 848E — Disclosure allowed by the Reserve Bank
(1) A person covered by subsection 848C(2) in relation to information may disclose the information if: (a) a determination made under subsection (2) or (4) of this section allows the disclosure by…
Section 848F — Disclosure for the purpose of seeking review or legal advice
(1) A person covered by subsection 848C(2) in relation to information referred to in subparagraph 848A(1)(a)(i) may disclose the information if the disclosure is made for the purposes of seeking…
Section 848G — Disclosure under the Reserve Bank Act
(1) A person covered by subsection 848C(2) in relation to information may disclose the information if: (a) the person is: (i) an officer (within the meaning of subsection 79A(1) of the Reserve Bank…
Section 848H — Disclosure under the ASIC Act
A person covered by subsection 848C(2) in relation to information may disclose the information if: (a) the person is: (i) a member of ASIC; or (ii) an ASIC staff member; or (iii) a Commonwealth…
Section 848J — Disclosure in circumstances determined by the Minister
(1) A person covered by subsection 848C(2) in relation to information may disclose the information if the disclosure is made in circumstances (if any) determined under subsection (2) of this section.…
Section 848K — Disclosure for same purpose
A person covered by subsection 848C(2) (the relevant person) in relation to information may disclose the information if: (a) another person covered by subsection 848C(2) in relation to the…
Section 848L — Exceptions operate independently
Sections 848D, 848E, 848F, 848G, 848H, 848J and 848K do not limit each other.
Section 849AA — Reserve Bank may apply for body corporate to be wound up
(1) The Reserve Bank may apply under section 459P to the Court for an order that a body corporate be wound up in insolvency if: (a) a condition in section 831A is satisfied in relation to a CS…
Section 849BA — Application of this Subdivision
(1) This Subdivision applies to a body corporate if: (a) the body corporate: (i) is a CS facility licensee; or (ii) is a related body corporate of a CS facility licensee and is incorporated in…
Section 849CA — Reserve Bank may object to exercise of certain powers by ASIC during crisis resolution
(1) ASIC must not take action mentioned in subsection (2) in relation to a body corporate to which subsection (3) applies unless the Reserve Bank has, by written notice given to ASIC, informed ASIC…
Section 849AB — Reserve Bank may request ASIC to make rules or give directions
Rules (1) If the Reserve Bank reasonably believes that: (a) making a market integrity rule or CS facility rule (including a rule amending or revoking another market integrity rule or CS facility…
Section 849BB — Stay on exercising termination rights
Stay on exercising termination rights (1) Subject to subsections (2) and (4), a right to terminate: (a) an arrangement; or (b) an obligation under an arrangement; that arises: (c) by express…
Section 849CB — Expert report for acquisition or disposal of assets
(1) This section applies if: (a) a statutory manager of a body corporate proposes to: (i) take action under subsection 833D(1) (recapitalisation actions); or (ii) otherwise take action on behalf of…
Section 849BC — Self-executing provisions
(1) The object of subsection (2) is to ensure that a self-executing provision: (a) cannot start to apply for certain reasons; and (b) can be the subject of a Court order providing that the provision…
Section 849CC — Exercise of Reserve Bank powers under this Part not grounds for denial of obligations
(1) Subject to subsection (5), this section applies if a body corporate (the protected body corporate) is party to an arrangement, whether the proper law of the arrangement is: (a) Australian law; or…
Section 849BD — When other laws prevail—certain other Commonwealth Acts
If there is any inconsistency between sections 849BB and 849BC and one of the following Acts, that Act prevails to the extent of the inconsistency: (a) the Anti-Money Laundering and Counter-Terrorism…
Section 849CD — Protection from liability for acts or omissions in good faith
(1) An action, suit or proceeding (whether criminal or civil) does not lie against a person in relation to anything done, or omitted to be done, in good faith by the person if: (a) the person does…
Section 849BE — Circumstances where a transaction by statutory manager not voidable under section 588FE
A transaction of a body corporate is not voidable under section 588FE merely because: (a) the transaction was entered into at a time when this Subdivision applied to the body corporate; and (b) the…
Section 849CE — Compensation for acquisition of property
(1) If: (a) apart from this section, the operation of this Part would result in an acquisition of property from a person otherwise than on just terms; and (b) the acquisition would be invalid because…
Section 849BF — General power to make orders
(1) The Court may make such orders as it thinks appropriate about how this Subdivision is to operate in relation to a particular body corporate. (2) An order may be made subject to conditions. (3) An…
Section 850A — Scope of Division
(1) This Division applies in relation to widely held market bodies. Meaning of widely held market body (2) A body corporate is a widely held market body if the body: (a) is: (i) a market licensee or…
Section 850B — Meaning of unacceptable control situation
(1) An unacceptable control situation exists in relation to a widely held market body and in relation to a particular person if the person’s voting power in the body is more than: (a) 20%; or (b) in…
Section 850C — Acquisitions of shares
If: (a) a person, or 2 or more persons under an arrangement, acquire shares in a body corporate; and (b) the acquisition has the result, in relation to a widely held market body, that: (i) an…
Section 850D — Orders to remedy unacceptable control situation
(1) If an unacceptable control situation exists in relation to a widely held market body, the Court may make such orders as the Court considers appropriate for the purpose of ensuring that the…
Section 850E — Injunctions
(1) If any conduct (including a refusal or failure to act) amounts or would amount to a contravention of this Division in relation to a particular widely held market body, the body is taken, for the…