New South Wales Consolidated Acts

TRUSTEE COMPANIES ACT 1964 - SECT 19C

19C Director’s and other fees

(1) Where an estate committed to the administration or management of a trustee company has an interest in a corporation and an officer of the trustee company, in his or her capacity as such an officer, acts as a director of the corporation for purposes connected with the administration or management of the estate:

(a) the trustee company shall be entitled to receive from the corporation and to retain any director’s fees which would be payable to the officer had the officer so acted otherwise than in his or her capacity as such an officer, and

(b) neither the officer nor the estate shall be entitled to receive the fees which the trustee company is entitled to receive under paragraph (a).