Victorian Current Acts Victorian Current Acts(1) No person dealing with Westpac or Challenge (in any capacity whatsoever) nor the Registrar of Titles, nor any other person registering or certifying title to land or having the power or duty to examine or receive evidence as to title to land, in respect of any dealing or transaction entered into or purporting to be entered into by Westpac or Challenge, is to be concerned to see, or enquire into, whether any property the subject of the dealing or transaction (whether or not that property is land) is a Westpac excluded asset, nor is such person to be affected by any notice, express, implied or constructive, that any such property is a Westpac excluded asset.
(2) If any dealing or transaction is entered into by Westpac with any person, in relation to or in connection with a Westpac excluded asset, it is to be deemed in favour of that person that Westpac has full power and authority to enter into that dealing or transaction as if that asset had vested in Westpac under Part 2.
(3) Nothing in subsection (1) affects the
liability of Westpac to Challenge in respect of anything done, or purporting
to be done, by Westpac in relation to or in connection with a Westpac excluded
asset.
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(4) No person dealing with Bank of Melbourne (in any capacity whatsoever) nor the Registrar of Titles, nor any other person registering or certifying title to land or having the power or duty to examine or receive evidence as to title to land, in respect of any dealing or transaction entered into or purporting to be entered into by Bank of Melbourne is to be concerned to see, or enquire into, whether any property the subject of the dealing or transaction (whether or not that property is land) is a Bank of Melbourne excluded asset, nor is such person to be affected by any notice, express, implied or constructive, that any such property is a Bank of Melbourne excluded asset.
(5) If any dealing or transaction is entered into by Bank of Melbourne with any person, in relation to or in connection with a Bank of Melbourne excluded asset, it is to be deemed in favour of that person that Bank of Melbourne has full power and authority to enter into that dealing or transaction as if that asset had vested in Bank of Melbourne under this Act.
(6) Nothing in this section affects the liability of Bank of Melbourne to Westpac in respect of anything done, or purporting to be done, by Bank of Melbourne in relation to or in connection with a Bank of Melbourne excluded asset.