Commonwealth Consolidated Acts

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INSURANCE ACT 1973 - SECT 71

Transfers to trustee of security trust fund--presumption of regularity

    If:

  (a)   money or property is transferred to a person in the capacity of trustee of a particular designated security trust fund; and

  (b)   the transfer is for the purposes of this Division;

the money or property is taken to have been transferred to the person to be held on trust in accordance with the terms of the fund's trust deed, irrespective of:

  (c)   the intention of the transferor; or

  (d)   the authority or capacity of the transferor.

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