Continuing application of ss 12 and 13
49 Continuing application of ss 12 and 13
Subsection (2) applies if—
before the commencement a former trustee received a demand mentioned in section 12(3) or 13 (each a relevant provision); and
the former trustee did not comply with the relevant provision before the commencement.
The relevant provision continues to apply to the former trustee in relation to dealing with the demand or former trust moneys.
Subsection (4) applies if before the commencement the trustee received written notice under former section 12(4) that ownership of moneys is in dispute.
Former section 12(4) continues to apply in relation to the former trustee.
In this section—former trust moneys means moneys that immediately before the commencement were trust moneys.
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