New South Wales Consolidated Acts

TRUSTEE COMPANIES ACT 1964

- As at 17 July 2009
- Act 6 of 1964

TABLE OF PROVISIONS

           Long Title

   PART 1 - PRELIMINARY

   1.      Name of Act and commencement
   2.      Repeal and savings
   3.      Definitions

   PART 2 - MANAGEMENT OF ESTATES BY TRUSTEE COMPANIES

   4.      Trustee company may act as executor and obtain probate
   5.      Person named as executor may authorise trustee company to take out administration c.t.a.
   6.      Trustee company may be authorised to obtain letters of administration
   7.      (Repealed)
   8.      Trustee company may act as administrator notwithstanding its incorporation
   9.      Court to act on affidavit of managing director etc
   10.     Assets of trustee company liable for proper administration of estates
   11.     Company may be appointed trustee, receiver, committee, manager or guardian
   12.     Property vested in trustee company and another as trustees to be held jointly
   13.     Trustee company may act under power of attorney by managing director etc
   14.     Power to delegate trusts to trustee company
   15.     Power to appoint trustee company to discharge duties of executor etc
   15A.    Election to administer where no previous executor or administrator
   15AA.   Election to administer where previous executor or administrator
   15AB.   Estate not small estate
   15AC.   Discovery of later will
   15AD.   Notice and form of elections and notices
   15B.    Maintenance etc of minor or incapable person
   15C.    General powers of trustee company
   16.     Common trust funds
   17.     Contributory investments
   17A.    Power to make advances
   18.     Commission chargeable by trustee company
   18A.    Payment of commission
   19.     Management fees
   19A.    (Repealed)
   19B.    Trust fees
   19C.    Director’s and other fees
   19D.    General provisions in respect of fees
   19E.    Application of certain amendments to certain estates
   19F.    GST may be added to charges by trustee companies
   20.     Removal from office
   20A.    Trustee company not required to file accounts
   21.     Court may order account
   22.     Court may order audit
   23.     Application of secs 21 and 22
   24.     Court may restrain sale of shares or voluntary winding-up
   25.     Court may order winding-up
   26.     Unclaimed moneys
   27.     Applications by persons entitled to trust funds
   28.     Treasurer may apply for account
   29.     Borrowing by trustee company
   29A.    Loans from estates to related corporations prohibited
   29B.    Liability under guarantee
   29C.    Trustee company not to refuse to register shares
   29D.    Financial statement of trustee company
   29E.    Trustee company to give information to Minister or Commission
   30.     Applications to Court
   31.     Managing director and others may represent trustee company and be personally responsible

   PART 3 - SHAREHOLDINGS IN TRUSTEE COMPANIES

   31A.    Restriction on acquisition of shares
   31B.    Acquisitions to which sec 31A does not apply
   31C.    Orders where prohibited acquisitions take place
   31D.    Powers of the Minister in certain other cases

   PART 4 - MISCELLANEOUS

   32.     Recovery of penalties
   32A.    Certificate evidence
   32B.    Excluded matters under section 5F of Corporations Act 2001 of the Commonwealth
   33.     Settlors or testators may appoint own solicitors
   34.     Other companies may apply for similar powers
   35.     Liability of directors
   36.     Provisions continued in force
   36A.    Indemnities
   36AA.   Extension of section 36A to other trustee companies
   36B.    Unpaid capital of Trust Company Fiduciary Services Limited
   37.     Regulations
   37A.    Savings and transitional regulations
   38.     Repeal of Act does not affect operation of savings and transitional provisions
           SCHEDULE 1
           SCHEDULE 2
           SCHEDULE 3