South Australian Current Regulations

SECURITY AND INVESTIGATION INDUSTRY REGULATIONS 2011 - REG 45

45—ADIs etc not affected by notice of trust

        (1)         Subject to subregulation (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 regulation does not relieve an ADI of liability for negligence.