27
In forceADIs etc not affected by notice of trust
Part 3Trust accounts and indemnity fund
Division 2Trust accounts
27 ADIs etc not affected by notice of trust
(1)
Subject to subsection (2), an ADI is not affected by notice of a specific trust to which money deposited in a trust account is subject, and is not bound to satisfy itself of the due application of that money.
(2)
This section does not relieve an ADI of liability for negligence.
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