• Specific Year
    Any

TRUSTEE ACT 1925

Table of Provisions

PART 1--PRELIMINARY

  • 1 Name of Act  
  • 2 Dictionary  
  • 3 Notes  
  • 4 Meaning of trust  
  • 5 Offences against Act—application of Criminal Code etc  
  • 5A Treatment of unincorporated entities named in trusts  

PART 2--TRUSTEES

Division 2.1--Appointment, retirement, disclaimer and ceasing to be executor

  • 6 Appointment of new trustees  
  • 7 Additional trustee  
  • 7A Children not to be appointed trustees  
  • 8 Retirement  
  • 9 Vesting on appointment and retirement  
  • 10 Renunciation of probate  
  • 11 Ceasing to be executor  
  • 12 Registration  
  • 13 Protection of purchasers  

Division 2.2--Powers and duties

Subdivision 2.2.1--Investment
  • 14 Powers of investment  
  • 14A Duties of trustee in relation to powers of investment  
  • 14B Law and equity preserved  
  • 14C Exercise of power of investment  
  • 14D Powers of trustee in relation to securities  
  • 14E Power to buy house as residence for beneficiary  
  • 14F Investment in securities under RITS system  
  • 17 Accepting a short title  
  • 18 Ratio of loan to value  
  • 19 Loss on authorised security  
  • 20 Release of part of security  
  • 21 Arrangement with company  
  • 22 New shares in company  
  • 23 Calls on shares  
  • 24 Accrued interest on debentures or stock sold or purchased  
  • 25 Continued holding  
  • Subdivision 2.2.2--Sale and other dealings
  • 26 Powers incidental to sale  
  • 27 Duration of trust or power to sell  
  • 27B Postponement of sale  
  • 27C Purchaser under trust for sale  
  • 27D Application of rule in Howe v Earl of Dartmouth to leases  
  • 28 Deferred payment on sale of land  
  • 30 Depreciatory conditions  
  • 31 Sale of part of land  
  • 32 Sale, exchange and partition  
  • 32A Power to purchase equity of redemption instead of foreclosure  
  • 33 Sale after right of redemption barred  
  • 34 Release of equity of redemption in discharge of mortgage debt  
  • 35 Surrender of onerous lease  
  • 36 Leasing  
  • 37 Renewal of renewable leasehold  
  • 38 Raising money  
  • 39 Protection of purchasers or mortgagees  
  • 39A Application of income by trustee as mortgagee in possession  
  • Subdivision 2.2.3--Property not in possession
  • 40 Powers  
  • Subdivision 2.2.4--Insurance
  • 41 Insurance  
  • 42 Application of insurance money  
  • Subdivision 2.2.5--Maintenance, advancement and protective trusts
  • 43 Maintenance and accumulation  
  • 44 Advancement  
  • 45 Protective trusts  
  • Subdivision 2.2.6--Appropriation and payment to public trustee and guardian
  • 46 Appropriation  
  • 47 Payment to public trustee and guardian  
  • Subdivision 2.2.7--Receipts and compounding
  • 48 Receipts  
  • 49 Compounding  
  • Subdivision 2.2.8--Safe custody, audit and valuation
  • 50 Deposit for safe custody  
  • 51 Audit  
  • 51A Information etc for Minister  
  • 51B Minister may require inquiry etc  
  • 52 Valuation  
  • Subdivision 2.2.9--Agents, banks and others
  • 53 Employment of agents  
  • 54 Banks  
  • 54A Bank may recognise certain signatures and endorsements  
  • 55 Property outside ACT  
  • 56 Undivided interests  
  • Subdivision 2.2.10--Surviving trustees
  • 57 Two or more trustees  
  • Subdivision 2.2.11--Protection of trustees
  • 58 Powers of attorney  
  • 59 Implied indemnity  
  • 60 Distribution after notice  
  • 61 Distribution where estate comprises leaseholds, and in certain other  
  • 61A Personal liability of legal representative or trustee  
  • 62 Notice affecting a trustee  
  • 63 Advice  

Division 2.3--Delegation

  • 64 Execution of trust  
  • 65 Consent to exercise of trust or power  
  • 66 Person dealing with delegate  
  • 67 Power of attorney  
  • 68 Registration  

PART 3--POWERS OF SUPREME COURT

Division 3.1--New trustees and vesting orders

  • 70 New trustees  
  • 71 Vesting orders  
  • 72 Contingent rights of unborn person  
  • 73 Child beneficiary  
  • 74 Mortgagee under disability  
  • 75 Deceased mortgagee  
  • 76 Sale or mortgage of land  
  • 77 Specific performance etc  
  • 78 Effect of vesting order  
  • 79 Appointment of person to convey  
  • 80 Trustees of charities  

Division 3.2--Dealings and improvements

  • 81 Advantageous dealings  
  • 82 Improvements and repairs  
  • 83 Improvements and repairs without Supreme Court's approval  
  • 84 Sale of child's property  

Division 3.3--Relief and indemnity

  • 85 Excusable breaches of trust  
  • 86 Indemnity for breach of trust  

Division 3.4--Miscellaneous powers

  • 87 Division of chattels  
  • 88 Order in absence of trustee  
  • 89 Supreme Court considerations in action for breach of trust  
  • 89A Power of Supreme Court to set off investment gains and losses  
  • 90 Postponement of order  

Division 3.5--Applications and orders

  • 91 Orders in other proceedings  
  • 92 People entitled to apply  

Division 3.6--Charitable trusts

  • 94A Applications to Supreme Court  
  • 94B Orders of Supreme Court  
  • 94C Notice to Minister  
  • 94E Action under Supreme Court order lawful  

PART 4--PAYMENT INTO COURT

  • 94F Definitions for pt 4  
  • 95 Trustees  
  • 96 Person liable to person with legal disability  
  • 98 Money or securities  

PART 5--MISCELLANEOUS

  • 102 Compulsion to account  
  • 103 Indemnity for anything done under Act etc  
  • 104 Preamble to Charitable Uses Act 1601  
  • 105 Illusory etc share valid in law and equity  
  • 106 Consideration of advice etc by certain trustees  

Navigate