15Financial institutions not subject to certain obligations and liabilities

#### 15 Financial institutions not subject to certain obligations and liabilities 15 Financial institutions not subject to certain obligations and liabilities > > (1) An approved ADI with which a retention money trust account is established by a head contractor under this Part— > > > > > (a) is not under any obligation to control or supervise transactions in relation to the account or to see to the application of money disbursed from the account, and > > > > > (b) does not have, in relation to any liability of the head contractor to the approved ADI, any recourse or right (whether by way of set-off, counterclaim, charge or otherwise) against money in the account. > > > (2) Subclause (1) does not relieve an approved ADI from any liability to which it is subject apart from this Part.