South Australian Consolidated Acts South Australian Consolidated Acts27—Power of trustee to give receipts
(1) The receipt in
writing of any trustee for any money, securities, or other personal property
or effects payable, transferable, or deliverable to him under any trust or
power shall be a sufficient discharge for the same, and shall effectually
exonerate the person paying, transferring, or delivering the same from seeing
to the application or being answerable for any loss or misapplication thereof.
(2) This section
applies to trusts created either before or after the commencement of this Act.