Aboriginal Land Regulation 2011

A member—

is chargeable only for amounts and securities actually received even though the member signed a receipt for the amount or security; and

is answerable and accountable only for the member’s own acts, receipts, neglects or defaults.

Without limiting subsection (1), a member is not answerable or accountable for—

the acts, receipts, neglects or defaults of another member or the land trust; or

the acts, receipts, neglects or defaults of a bank, broker or other person with whom trust property is deposited; or

the insufficiency or deficiency of any securities or another loss unless the insufficiency, deficiency or loss happens because of the member’s default.