New South Wales Consolidated Acts New South Wales Consolidated ActsA receipt for money payable to the Trust shall exonerate the mortgagee, purchaser or other person by whom or on whose behalf the money is so payable from any liability to see to the application thereof, and from any liability for the loss, misapplication or non-application thereof, if the receipt:
(a) is executed in accordance with section 13 (2) under the common seal of the Trust, or
(b) is in writing signed by a person or persons purporting to be duly authorised for the purpose by the Trust or any 2 members thereof.