21Receipts for mortgage and purchase moneys etc and no person bound to enquire etc

21 Receipts for mortgage and purchase moneys etc and no person bound to enquire etc

21 Receipts for mortgage and purchase moneys etc and no person bound to enquire etc

Any receipt under seal executed in accordance with section eight hereof or in writing of a majority of the Trustees or any person duly authorised by a resolution of the Trustees to receive the same for the mortgage moneys raised on any property mortgaged by the Trustees or for the purchase money of any property sold under this Act or the moneys received on any resumption by any competent authority or for any other moneys which shall be payable to them when exercising any of the powers hereby conferred upon them or otherwise receivable by them under this Act shall exonerate the mortgagee and/or the purchaser and/or all other persons for the time being paying such moneys to the Trustees or the person or persons authorised as aforesaid to receive the same therefrom and from all liability to see to the application of the same and as to the loss misapplication or non-application thereof and from inquiring into the propriety necessity or regularity of any mortgage or sale lease or other dealing whatsoever and no such mortgagees purchasers or other persons shall be entitled or concerned to enquire whether any consents have been given or rules regulations and formalities have been made or imposed or whether the same if made or imposed have been observed and complied with in the premises.