NSW TRUSTEE AND GUARDIAN ACT 2009 - SECT 104 Common funds

NSW TRUSTEE AND GUARDIAN ACT 2009 - SECT 104

104 Common funds

(1) The NSW Trustee is to establish one or more funds to be known as common funds.

(2) If there is more than one common fund, each common fund must have a distinguishing number.

(3) The NSW Trustee may from time to time, without liability for breach of trust, pay into or withdraw money from a common fund in accordance with this Act.

(4) Without limitation, money may be paid into a common fund in respect of one or more trust matters and in respect of one or more clients or managed estates.

(5) Amounts credited to a common fund are held on trust by the NSW Trustee.

(6) The NSW Trustee may--

(a) establish such portfolios and accounts within a common fund as it thinks fit, and

(b) establish a common fund on the basis of a unitised system or any other appropriate basis.