Commonwealth Consolidated Acts Commonwealth Consolidated ActsA transaction of a body corporate is not voidable under section 588FE of the Corporations Act 2001 merely because:
(a) the transaction was entered into at a time when a Life Insurance Act statutory manager was in control of the body corporate's business; and
(b) the transaction is:
(i) an uncommercial transaction (within the meaning of that Act) of the body corporate; or
(ii) an unfair preference (within the meaning of that Act) given by the body corporate to a creditor of the company; or
(iii) an insolvent transaction (within the meaning of that Act) of the body corporate; or
(iv) a creditor - defeating disposition (within the meaning of that Act) by the body corporate.