sec.66Notice of trusts not to be received

### sec.66 Notice of trusts not to be received A statutory body— must not receive, and must be taken to have not received, notice of a trust (whether express, implied or constructive) in relation to a financial arrangement entered into by the body under this Act or another Act; and is not bound to see to the execution of a trust that may affect the financial arrangement. Subsection (1) applies to a person acting for a statutory body in relation to the financial arrangement. s 66 ins 1996 No. 54 s 8 (sec.66-ssec.1) A statutory body— must not receive, and must be taken to have not received, notice of a trust (whether express, implied or constructive) in relation to a financial arrangement entered into by the body under this Act or another Act; and is not bound to see to the execution of a trust that may affect the financial arrangement. (sec.66-ssec.2) Subsection (1) applies to a person acting for a statutory body in relation to the financial arrangement. - (a) must not receive, and must be taken to have not received, notice of a trust (whether express, implied or constructive) in relation to a financial arrangement entered into by the body under this Act or another Act; and - (b) is not bound to see to the execution of a trust that may affect the financial arrangement.