Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The acts of the manager of a health benefits fund are valid despite any defects that may afterwards be discovered in his or her appointment.
(2) Despite any defect or irregularity affecting the validity of the appointment of the manager of a health benefits fund:
(a) a conveyance, assignment, transfer, mortgage or charge of assets of the fund; or
(b) a payment of money of the fund; or
(c) any other disposition of assets of the fund;
is valid in favour of any person taking such assets in good faith and for value and without actual knowledge of the defect or irregularity.
(3) Despite any defect or irregularity affecting the validity of the appointment of the manager of a health benefits fund, a person making or permitting:
(a) a payment of money of the fund; or
(b) any other disposition of assets of the fund;
is to be protected and indemnified in so doing if the person does not have actual knowledge of the defect or irregularity.