New South Wales Consolidated Acts

MOTOR DEALERS AND REPAIRERS ACT 2013 - SECT 93

93 Protection of authorised deposit-taking institutions from liability

(1) An authorised deposit-taking institution is not liable to any person merely because the institution failed to secure compliance with any provision of this Division or the regulations relating to the keeping of trust accounts and the withdrawal of money from trust accounts.

(2) An authorised deposit-taking institution does not have any recourse or right against money standing to the credit of a trust account in respect of any liability of the motor dealer to the institution (not being a liability in connection with that account).