Northern Territory Treasury Corporation Act 1994

A person who enters into a transaction with the Corporation:

is not required to enquire into the application of money, credit or other financial accommodation provided by the person; and

is not responsible in any way for any non-application or misapplication of the money, credit or other financial accommodation.

A person who enters into a transaction with the Corporation is entitled to assume that the Corporation:

has power to enter in to the transaction;

is entering into the transaction in the performance of its functions under this Act;

has obtained all approvals required under this Act to enable it to enter into the transaction; and

in entering into the transaction, has otherwise complied with this Act and with any direction given by the Treasurer under this

Act,

unless, at the time the transaction is entered into, the person has:

actual knowledge to the contrary; or

a connection or relationship with the Corporation which is such that the person ought to know that the contrary is in fact the case.

A person who enters into a transaction with the Corporation is entitled to make an assumption under subsection (2) at the time the transaction is entered into and the Corporation may not subsequently assert that the contrary is the case and that the transaction is not binding on the Corporation.