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AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED (NMRB) ACT 1991 - SECT 23
Excluded assets
23 Excluded assets
(1) No person dealing— (a) with ANZ or NMRB (in any capacity whatsoever); or
(b) with ANZ Savings Bank or ANZ or NMR Savings Bank (in any capacity
whatsoever);
nor the Registrar of Titles, nor any other person registering or
certifying title to land or other property or having the power or duty to
examine or receive evidence as to title to land or other property, is, in
relation to any dealing or transaction entered into or purporting to be
entered into by ANZ, NMRB, ANZ Savings Bank or NMR Savings Bank, to be
concerned to see, or inquire into, whether any property the subject of the
dealing or transaction (whether or not that property is land) is an excluded
asset, or be affected by any notice, express, implied or constructive, that
any such property is an excluded asset.
(2) If any dealing or transaction is
entered into by ANZ or ANZ Savings Bank with any person, in relation to or in
connection with an excluded asset, it is to be taken in favour of that person
that ANZ or ANZ Savings Bank, as the case may be, has full power and authority
to enter into that dealing or transaction as if the excluded asset had vested
in ANZ or ANZ Savings Bank, as the case may be, under this Act.
(3) Nothing
in this section affects the liability of ANZ to NMRB, or of ANZ Savings Bank
or ANZ to NMR Savings Bank, in relation to anything done, or purporting to be
done, by ANZ or ANZ Savings Bank, as the case may be, in relation to or in
connection with an excluded asset.
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