Section 843D — Corporations Act 2001 (Cth)

(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 providing that the provision can only start to apply against a body corporate with the leave of the Court, and in accordance with such terms (if any) as the Court imposes.

(2) Sections 843A to 843C apply in relation to a self‑executing provision in a corresponding way to the way those sections apply in relation to a right. For this purpose, assume those sections apply with such modifications as are necessary, including any prescribed by the regulations for the purposes of this subsection.

Note 1: This subsection achieves the object in subsection (1) by extending the application of all of the outcomes, exceptions and powers in sections 843A to 843C.

Note 2: These modifications include, for example, treating:

(a) a reference that a right cannot be enforced (however described) as including a reference that a self‑executing provision cannot start to apply; and

(b) the words “if the right arises for that reason by express provision (however described) of an arrangement” as being omitted from subsections 843A(1) and (2); and

(c) a reference that one or more rights are enforceable as including a reference that one or more self‑executing provisions can start to apply.

(3) In this section:

self‑executing provision means a provision of an arrangement that can start to apply automatically:

(a) for one or more reasons; and

(b) without any party to the arrangement making a decision that the provision should start to apply.

Related sections

• s 843A — Stay on enforcing rights merely because the body corporate is under statutory management or subject to a transfer determination
• s 843B — Exceptions
• s 843C — Stay on body corporate’s right to new advance of money or credit
• s 843E — When other laws prevail—certain other Commonwealth Acts
• s 843F — Circumstances where a transaction by statutory manager not voidable under section 588FE
• s 844A — Winding up body corporate

Research how courts apply s 843D

BriefBridge searches Australian caselaw by meaning — every answer cited to the paragraph.