New South Wales Consolidated Acts

TREASURY CORPORATION ACT 1983 - SECT 11

11 Protection of persons having dealings with the Corporation

(1) The purpose of this section is to give protection to a person having dealings with the Corporation.

(2) An act of the Corporation is not invalid merely because it is not in pursuance of the objects of the Corporation.

(3) The performance of a function by the Corporation is not invalid merely because it is performed contrary to a restriction or prohibition imposed by or under this or any other Act.

(4) A person who has dealings with the Corporation is entitled to make the following assumptions in relation to those dealings:

(a) that the Corporation has power to have the dealings with the person,

(b) that the dealings are in pursuance of the objects of the Corporation,

(c) that the Corporation is acting in compliance with this Act and the funding Act.

(5) No actual or constructive notice that any of those assumptions is incorrect prevents a person from making those assumptions.

(6) In any proceedings in relation to dealings that a person has with the Corporation, an assertion by the Corporation or any other person (except the person who has those dealings) that an assumption made under this section is incorrect is to be disregarded.