Western Australian Current Acts

AUSTRALIA AND NEW ZEALAND BANKING GROUP ACT 1970 - SECT 22

22 .         Protection of persons in respect of dealings with excluded assets

        (1)         No person dealing in any capacity —

            (a)         with the Bank or an existing bank; or

            (b)         with A.N.Z. Savings Bank or E.S.A. Savings Bank,

                nor the Registrar of Titles or the Registrar of Deeds, 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, shall, in respect of any dealing or transaction entered into or purporting to be entered into by the Bank, an existing bank, A.N.Z. Savings Bank or E.S.A. Savings Bank, be —

            (c)         concerned to see or enquire into whether any property the subject of the dealing or transaction (whether or not that property is land) is an excluded asset; or

            (d)         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 the Bank or A.N.Z. Savings Bank with any person, in relation to or in connection with an excluded asset, it shall be deemed in favour of that person that the Bank or A.N.Z. 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 the Bank or A.N.Z. Savings Bank, as the case may be, under this Act.

        (3)         Nothing in this section affects the liability of the Bank to an existing bank, or of A.N.Z. Savings Bank to E.S.A. Savings Bank, in respect of anything done, or purporting to be done, by the Bank or A.N.Z. Savings Bank, as the case may be, in relation to or in connection with an excluded asset.