Dormant Funds Act 1942

Every order made under this Act shall be binding upon and shall be complied with and carried into effect by the trustees or persons named or described therein.

Every such order shall be a complete indemnity to all bankers or other depositories of any funds, securities or moneys comprising or forming part of the dormant fund, and to all trustees or persons named or described in the order for any act done pursuant to the order.

No person named or described in the order shall be concerned to inquire as to the necessity for or propriety of such order or as to the authority of the Commissioner or of the Tribunal to make the order.

The making of an order under this Act shall, in favour of all trustees and other persons named or described in the order, and of any person deriving title through or under such trustees or persons, or by operation of the order, be conclusive evidence that all conditions precedent to the making of the order have been duly complied with and that the Commissioner or the Tribunal, as the case may be, had jurisdiction to make such order.

Any order under this Act which provides for the appointment of trustees shall have the effect of an order made by the Supreme Court in its equitable jurisdiction, pursuant to section 70 of the Trustee Act 1925.

Any order under this Act for the vesting of the dormant fund in trustees so appointed shall have the like effect as is provided in section 78 of the Trustee Act 1925 in the case of a vesting order made by the Supreme Court in its equitable jurisdiction.

All orders under this Act made by the Commissioner or by the Tribunal shall be filed in the office of the Commissioner.

(Repealed)