Trusts Act 2025
sec.147Protection in relation to receipts
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sec.147 Protection in relation to receipts
This section applies if— a trustee signs a receipt for the payment of an amount or for securities in order to comply with the requirements in relation to the giving of receipts by trustees; and the trustee does not receive all, or any, of the amount or securities. The trustee is accountable only for the amount or securities actually received by the trustee. (sec.147-ssec.1) This section applies if— a trustee signs a receipt for the payment of an amount or for securities in order to comply with the requirements in relation to the giving of receipts by trustees; and the trustee does not receive all, or any, of the amount or securities. (sec.147-ssec.2) The trustee is accountable only for the amount or securities actually received by the trustee.
- (a) a trustee signs a receipt for the payment of an amount or for securities in order to comply with the requirements in relation to the giving of receipts by trustees; and
- (b) the trustee does not receive all, or any, of the amount or securities.