(1)  A person must not knowingly contravene a restraining order by disposing of, or otherwise dealing with, property that is subject to the restraining order.

Penalty:   –

(a) in the case of a body corporate – a fine not exceeding 500 penalty units; or

(b) in any other case – a fine not exceeding 100 penalty units or imprisonment for a term not exceeding 5 years, or both.

(2)  If –

(a) a restraining order is made against property; and

(b) the property is disposed of, or otherwise dealt with, in contravention of the restraining order; and

(c) the disposition or dealing was either not for sufficient consideration or not in favour of a person who acted in good faith –

an authorized officer may apply to the Supreme Court for an order that the disposition or dealing be set aside.

(3)  If an authorized officer makes an application under subsection (2) in relation to a disposition of, or dealing with, property –

(a) the authorized officer is to give written notice of the application to each person who the authorized officer has reason to believe may have acquired an interest in the property on or after the day on which the disposition or dealing took place; and

(b) a person so notified, and any person who claims to have acquired an interest in the property on or after the day on which the disposition or dealing took place, may appear and adduce evidence at the hearing of the application; and

(c) the court may, at any time before the final determination of the application, direct the authorized officer to give or publish notice of the application to a specified person or class of persons in such manner and within such time as the court considers appropriate.

(4)  If an authorized officer makes an application under subsection (2) in relation to a disposition or dealing, the Supreme Court may make an order –

(a) setting the disposition or dealing aside as from the day on which the disposition or dealing took place; or

(b) setting the disposition or dealing aside as from the day of the order under this subsection and declaring the respective rights of any persons who acquired interests in the property on or after the day on which the disposition or dealing took place and before the day of the order under this subsection.