Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) An indemnity for any liability under this Act (other than the National Credit Code) is not void, and cannot be declared void, on the grounds of public policy, despite any rule of law to the contrary.
Note: A similar rule applies for the purposes of the National Credit Code (see section 192 of that Code).
(2) The liabilities to which this section applies include the following:
(a) a liability for any criminal or civil penalty incurred by any person under this Act (other than the National Credit Code);
(b) a payment in settlement of a liability or alleged liability under this Act (other than the National Credit Code);
(c) a liability under another indemnity for any liability under this Act (other than the National Credit Code).
(3) This section is subject to subsection 334(2).
(4) This section does not derogate from any other rights and remedies that exist apart from this section.