New South Wales Consolidated Acts

AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED (NMRB) ACT 1991 - SECT 23

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-General, 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, is, in respect of 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 deemed 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 respect of 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.