(1) A transaction of a company is an uncommercial transaction of the company
if, and only if, it may be expected that a reasonable person in the company's
circumstances would not have entered into the transaction, having regard to:
- (a)
- the benefits (if any) to the company of entering into the transaction; and
- (b)
- the detriment to the company of entering into the transaction; and
- (c)
- the respective benefits to other parties to the transaction of entering
into it; and
- (d)
- any other relevant matter.
(2) A transaction may be an uncommercial transaction of a company because of
subsection (1):
- (a)
- whether or not a creditor of the company is a party
to the transaction; and
- (b)
- even if the transaction is given effect to, or is required to be given
effect to, because of an order of an Australian court or a direction by an
agency.