27Moneys paid to a registered person to be held in trust

27.—(1.) Moneys paid to a registered person by the Commission in respect of deficiency payments, and any moneys received by the registered person by way of refund or recovery of moneys paid by the registered person as deficiency payments, shall be deemed to be moneys held in trust for the Commonwealth until applied by the registered person in accordance with this Act.

(2.) Where a registered person, with the authority of the Commission, makes a deficiency payment that was not payable, or was in excess of the amount properly payable, or was paid to a person other than the person entitled to receive it, the registered person is not liable to the Commonwealth or to the Commission in respect of moneys used to make the payment, or the excess payment, as the case may be, if the registered person obtained the authority of the Commission, and made the payment, in good faith and without negligence.

(3.) Moneys referred to in sub-section (1.) of this section shall be deemed not to be public moneys, or to form part of the Commonwealth Public Account, for the purposes of the Audit Act 1901–1969.

Appropriation.