(1) Where a trustee is absent from New South Wales or is about to depart
therefrom, the trustee may by registered deed delegate the execution of the
trust.
(2) A trustee may not so delegate, unless the trustee's co-trustees or
co-trustee, and such other person, if any, as is empowered to appoint
trustees, consent by the same or other registered deed to the delegation, and
the delegation is to the NSW Trustee or to a trustee company or to a person
residing in New South Wales who is either a co-trustee or is capable of being
appointed a trustee of the trust.
(3) The delegation may be made in respect
of the whole or any part of the trust.
(3A) A delegation given under the
authority of this section by a trustee who is the legal representative of a
deceased person shall, unless the contrary is expressed in the deed of
delegation, operate to delegate not only the execution of the duties incident
to the office of legal representative of such deceased person (including the
exercise and discharge of all the powers, authorities, duties and functions of
the trustee as such legal representative) but also the execution of the trusts
which devolve upon such trustee when the administration of the estate of such
deceased person is completed.
This subsection shall be deemed to have commenced on the first day of March,
one thousand nine hundred and twenty-six.
(4) The delegation shall not
operate beyond two years from the date of the deed and shall be made on one
occasion only, unless after the delegation the trustee has returned to New
South Wales and is again absent or about to depart therefrom, provided that in
the event of the delegate dying or the delegation being revoked, another
delegation may be made for the balance of the period of two years.
(5) The
delegation shall not be made, whether to a co-trustee or to any other person,
unless there will be remaining in New South Wales to perform the trust the NSW
Trustee or a trustee company or two persons whether as trustee or as delegate.
(6) Two or more trustees may delegate concurrently.
(7) A trustee who
delegates his or her trust shall remain answerable for all acts and omissions
of the delegate within the scope of the delegation as if they were the acts
and omissions of the trustee, and the delegate shall be subject to the
jurisdiction and powers of any Court so far as respects the execution of the
trust in the same manner as if the delegate were the trustee.
(8) This
section applies only if and as far as a contrary intention is not expressed in
the instrument, if any, creating the trust, and shall have effect subject to
the terms of that instrument and to the provisions therein contained, provided
that nothing in this subsection shall affect the jurisdiction or powers of any
Court.
(9) This section applies to trusts created either before or after the
commencement of this Act.
