New South Wales Consolidated Acts

TRUSTEES DELEGATION OF POWERS ACT 1915 - SECT 9

9 Protection for banks, companies and others

(1) The fact that it appears from any power-of-attorney given under or validated by this Act or from any evidence required for the purposes of any such power-of-attorney or otherwise that in dealing with any stock or money in a bank, building society or credit union, the donee of the power is acting in the execution of a trust shall not be deemed for any purpose to affect any person in whose books the stock is inscribed or registered, or in whose hands the money is deposited, with any notice of the trust.

(2) In this section the expression "stock" includes shares, and any fund, annuity, or security, transferable in books kept by any person or by any instrument of transfer, either alone or accompanied by other formalities, and any share or interest therein.