New South Wales Consolidated Acts New South Wales Consolidated ActsA receipt for moneys payable to the Trust shall exonerate the mortgagee, purchaser or other person by whom or on whose behalf the moneys are 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 this Act under the common seal of the Trust,
(b) is in writing signed by two members of the Trust, or
(c) is in writing signed by a person or persons purporting to be duly authorised for the purpose by the Trust or two members thereof.