Commonwealth Consolidated Acts

CORPORATIONS ACT 2001 - SECT 843C

  (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 against the entity for a new advance of money or credit;

that right of the body corporate cannot be enforced during the same period.

  (2)   Subsection   (1) of this section does not apply to a right of a body corporate if:

  (a)   the body corporate is a related body corporate of the entity mentioned in paragraph   (1)(a); and

  (b)   exercising the right:

  (i)   constitutes, or constitutes part of, default management; or

  (ii)   constitutes recovery action; or

  (iii)   constitutes a funding call on the entity.