Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This Act has effect in spite of anything in any contract, deed, undertaking, agreement or other instrument.
(2) Nothing done by or under this Act:
(a) places a receiving bank, the relevant transferring bank 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 bank, the relevant transferring bank or another person in breach of:
(i) any law of the Commonwealth or of a State or Territory; or
(ii) any contractual provision prohibiting, restricting or regulating the assignment or transfer of any asset or liability or the disclosure of any information; or
(c) releases any surety, wholly or partly, from all or any of the surety's obligations.
(3) Without limiting subsection (1), where, 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, as the case requires.