Section 42: Undisclosed Representation , Undertakings and Obligations to Debtors Unenforceable against the Corporation.

Where in relation to an eligible bank asset acquired by the Corporation, an eligible financial institution fails to-
(a) disclose to the Corporation any representation or obligation which the eligible financial institution made or undertook in favour of a debtor or any other person which would affect the creditors' rights in relation to the eligible bank asset ; or
(b) record a note or memorandum specifying the consideration paid in respect of such representation or obligation that representation or obligation may be enforceable only in damages by the debtor or any other person only against the eligible financial institution and not the Corporation.