A Court may make an Order setting aside a Binding Financial Agreement if, and only if, the Court is satisfied that:
- The Agreement was obtained by fraud (including non-disclosure of a material matter);
- The Agreement is void, voidable or unenforceable;
- If circumstances have arisen since the Agreement was made to make it impractical for the Agreement or part of the Agreement to be carried out;
- Since the making of the Agreement a material change in circumstance has occurred (being circumstances relating to the care, welfare and development of a child of the marriage) and as a result of the change, a party to the Agreement will suffer hardship if the Court does not set the Agreement aside; or
- In respect of the making of a Binding Financial Agreement, a party to the Agreement engaged in conduct that was in all the circumstances unconscionable.
Please note that one can terminate an Agreement at any time by entering into a formal termination agreement. A termination agreement must comply with the same formalities as a Binding Financial Agreement.