Section 265: Notice of trust not receivable except as provided.

(1) Except as otherwise provided in or under this part of this Act, no notice of any trust in respect of any registered bond or securities shall be receivable by the registrar or a relevant body.
(2) The registrar shall not be deemed to have received notice of a trust by reason only of the fact that he has recognised an endorsement on a bond or securities by an executor or an administrator as such, nor shall he inquire into the terms of any will by which such executor or administrator may be bound.