sec.67Protection of persons who enter into financial arrangements with statutory bodies

### sec.67 Protection of persons who enter into financial arrangements with statutory bodies A person (the other party ) who enters into a financial arrangement under this Act with a statutory body— is not bound to inquire into the application of the money, credit or other financial accommodation provided by the other party to the body; and is not responsible for the non-application or misapplication of the money, credit or other financial accommodation by the body; and if the other party receives, in consideration for entering into the financial arrangement, a document creating an encumbrance that is apparently properly signed by the body—is not bound to inquire whether the body properly decided to authorise the signing of the document. s 67 ins 1996 No. 54 s 8 - (a) is not bound to inquire into the application of the money, credit or other financial accommodation provided by the other party to the body; and - (b) is not responsible for the non-application or misapplication of the money, credit or other financial accommodation by the body; and - (c) if the other party receives, in consideration for entering into the financial arrangement, a document creating an encumbrance that is apparently properly signed by the body—is not bound to inquire whether the body properly decided to authorise the signing of the document.