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18
NO. 14 OF 2020
(3) The enforcement of any security in breach of section 5(2) is void except as against a bona fide purchaser for value without notice of the notification for relief.
(4) The following actions are void:
- (a) the appointment of a receiver or manager over any property or undertaking of a person made in breach of section 5(2);
- (b) a call on a performance bond or equivalent made in breach of section 6(2);
- (c) the forfeiture of a deposit or part of a deposit made in breach of section 7(2).
(5) Each of the following actions taken in breach of section 5(2) is invalid:
- (a) the repossession of any goods under any chattels leasing agreement, hire-purchase agreement or retention of title agreement;
- (b) the termination of a lease or licence of immovable property where the subject inability is the non-payment of rent or other moneys;
- (c) the exercise of a right of re-entry or forfeiture under a lease or licence of immovable property, or the exercise of any other right that has a similar outcome.
Division 3—Notification for relief
Notification for relief
9.—(1) If a party to a scheduled contract (called in this section A) intends to seek relief under section 5 or 7, A must, within the period specified in regulations made under section 19, and whether with or without prior demand for performance, serve a notification for relief that contains the prescribed information on—
- (a) the other party or parties to the contract;
- (b) any guarantor or surety for A's obligation in the contract; and
- (c) such other person as may be prescribed.
