Commonwealth Numbered Acts

LOAN (INCOME EQUALIZATION DEPOSITS) ACT 1976 No. 206, 1976 - SECT 11

11. (1) A trustee of an eligible trust estate may make a deposit in accordance
with this Act on behalf of a beneficiary who is presently entitled to a share
of the income of the trust estate but is under a legal disability at the time
of the making of the deposit.

(2) Except as provided by sub-section (1), a trustee of a trust estate is not
entitled to make a deposit on behalf of a beneficiary or otherwise in his
capacity as a trustee.

(3) For the purposes of this section, a trust estate is an eligible trust
estate if the trust resulted from-

   (a)  a will, a codicil or an order of a court that varied or modified the
        provisions of a will or codicil; or

   (b)  an intestacy or an order of a court that varied or modified the
        application, in relation to the estate of a deceased person, of the
        provisions of the law relating to the distribution of the estates of
        persons who die intestate.