Queensland Consolidated Acts

TORRES STRAIT ISLANDER LAND ACT 1991 - SECT 169

169 Financial institution must comply with direction

(1) After the direction is given to a financial institution, and until it is withdrawn, the financial institution must not—

(a) pay a cheque or other instrument drawn on the account stated in the direction unless the cheque or instrument is also signed by the chief executive; or

(b) give effect to another transaction on the account that is not authorised because of the direction.

Penalty—

Maximum penalty—100 penalty units.

(2) For section 168 (2) (a) , the chief executive’s signature on a cheque or instrument is sufficient evidence of the chief executive’s approval to draw an amount from the account to honour the cheque or instrument.