TRUSTEE ACT 1898 - As at 28 July 1999 - Act 4 of 1898 TABLE OF PROVISIONS TABLE OF PROVISIONS PART 1A - PRELIMINARY 1. Name of Act 2, 3. (Repealed) PART 1 - POWERS AND DUTIES OF TRUSTEES, EXECUTORS, AND ADMINISTRATORS 4–17. (Repealed) 18. Trustees may apply income of property of infants etc for their maintenance 19–24. (Repealed) PART 2 - POWERS OF THE COURT 25–58. (Repealed) PART 3 - PAYMENT INTO COURT OF TRUST FUNDS 59–63. (Repealed) PART 4 - MISCELLANEOUS PROVISIONS 64–70. (Repealed) Schedule TRUSTEE ACT 1898 - LONG TITLE An Act for consolidating Enactments relating to Trusts and Trustees. TRUSTEE ACT 1898 - SECT 1 Name of Act 1 Name of Act This Act may be cited as the Trustee Act 1898. TRUSTEE ACT 1898 - SECT 18 Trustees may apply income of property of infants etc for their maintenance 18 Trustees may apply income of property of infants etc for their maintenance (1) In all cases where any property is held by trustees in trust for an infant, either absolutely or contingently on his attaining the age of twenty-one years, or on the occurrence of any event previously to his attaining that age, such trustees may pay to the guardian (if any) of such infant, or may otherwise apply for or towards the maintenance or education of such infant, the whole or any part of the income to which such infant may be entitled in respect of such property, whether there be any other fund applicable to the same purpose or any other person bound by law to provide for such maintenance or education or not, and such trustees shall accumulate all the residue of such income by way of compound interest by investing the same, and the resulting income thereof from time to time, in proper securities for the benefit of the person who shall ultimately become entitled to the property from which such accumulation has arisen: (2) Provided that such trustees may at any time apply the whole or any part of such accumulations as if the same were part of the income arising in the then current year. Note: Section 18 (1) and (2) were repealed by the Schedule to the Trustee Act 1925 No 14, except as otherwise provided by section 43 (11) of that Act. Section 43 (11) reads as follows: (11) This section, and the repeal of section eighteen of the Trustee Act 1898 apply only where the instrument, if any, creating the trust comes into operation after the commencement of this Act. Date of commencement of the Trustee Act 1925, 1.3.1926. (3) The power conferred by subsection one of this section extends to the payment, after the commencement of the Minors (Property and Contracts) Act 1970, of income to an infant who has reached the age of eighteen years, but this section does not limit the generality of subsection one of this section. (4) This section does not affect such right as an infant may have in consequence of the Minors (Property and Contracts) Act 1970, upon reaching the age of eighteen years or otherwise, to call for payment or transfer of property to which he is absolutely entitled. TRUSTEE ACT 1898 - SCHEDULE (Section 2) _____________________________________________________________________________ |_____________________________________________________________________________| |_____________________________________________________________________________| | | |So much as is not already | |16 Vic No 19|Trustee Act 1852 |repealed except sections 53, 54, | |_____________________________________________________________________________| |_____________________________________________________________________________| |_____________________________________________________________________________| |_____________________________________________________________________________| | | |Sections 14–18, both inclusive,| |26 Vic No 12|Trust Property Act. |26, 30–33, both inclusive, 35, | | | |38–46, both inclusive, 61–64,| |_____________________________________________________________________________| |_____________________________________________________________________________| |No 38 1897 |Trust Property (Amendment) Act|Whole Act. | |_____________________________________________________________________________| TRUSTEE ACT 1898 - NOTES Historical notes The following abbreviations are used in the Historical notes: _____________________________________________________________ |_____________________________________________________________| |_____________________________________________________________| |_____________________________________________________________| |_____________________________________________________________| |_____________________________________________________________| |_____________________________________________________________| |_____________________________________________________________| Table of ActsTrustee Act 1898 No 4. Assented to 27.7.1898. This Act has been amended as follows: ____________________________________________________________________ | | |Trustee Act | |1925|No 14|1925. Assented to 8.12.1925. | | | | | |____________________________________________________________________| | | |Minors (Property and | | | |Contracts) Act 1970. Assented to 13.11.1970. | |1970|No 60| | | | |Date of commencement, 1.7.1971, sec 1 (2) and GG No 60 of| |____________________________________________________________________| | | |Statute Law (Miscellaneous Provisions) Act | |1999|No 31|1999. Assented to 7.7.1999. | | | | | |____________________________________________________________________| Table of amendments _________________________________________________________________________ |_________________________________________________________________________| |_________________________________________________________________________| |_________________________________________________________________________| |_________________________________________________________________________| |_________________________________________________________________________| |_________________________________________________________________________| |_________________________________________________________________________| |_________________________________________________________________________| |_________________________________________________________________________| |_________________________________________________________________________| |_________________________________________________________________________| |_________________________________________________________________________| |_________________________________________________________________________| |The whole Act |Am 1999 No 31, Sch 5.109 [1] (each heading that is not a| |_________________________________________________________________________|