Section 346: Realisation and liquidation of collateral
consolidated text (as at 2017, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
346. Realisation and liquidation of collateral
(1) Unless otherwise agreed by the parties and notwithstanding any other
enactment, the realisation, appropriation and/or liquidation of collateral under
a collateral arrangement shall take effect or occur without any requirement
that prior notice shall be given to, or consent be received from, any party,
person or entity.
(2) This section is without prejudice to any applicable law requiring that
the realisation, appropriation and/or liquidation of collateral is conducted in a
commercially reasonable manner.