Queensland Consolidated Acts

PUBLIC TRUSTEE ACT 1978 - SECT 48

Notwithstanding the provisions of any other Act, the public trustee when acting as a trustee, may at the public trustee's discretion, in addition to the powers which the public trustee has under any other Act--

(a) enter into any sharefarming agreement for any period not exceeding 3 years and renew any such sharefarming agreement;

(b) subject, where the sum to be expended exceeds $75000 in the aggregate, to the sanction of the court, from time to time expend from the capital of any estate under administration such sum as may reasonably be required--

(i) in the purchase of livestock, machinery, plant, implements and other chattels; or

(ii) in any undertaking or venture for the benefit or better management of the property, alone or in conjunction with others;

(c) open any separate account at a financial institution and of such nature for the purposes of any estate under administration as the public trustee thinks convenient;

(d) surrender or concur in surrendering any lease, and accept a lease;

(e) exercise, in whole or in part, as fully and effectually as if the public trustee were the absolute owner thereof, all rights arising out of any investment, including rights to acquire any stock, and for that purpose apply funds belonging to the estate under administration;

(f) grant powers of attorney to any person in or out of Queensland to do anything which the public trustee, if personally present, could do;

(h) with the approval of the Minister sell or otherwise deal with land forming part of the estate of a person in respect of which the Crown has any right by way of escheat or devolution or as bona vacantia;

(i) appropriate any part of the property in or towards satisfaction of any legacy payable thereout, or in or towards satisfaction of any share thereof (whether settled, contingent or absolute), to which any person is entitled, but so that--

(i) the appropriation shall not be made so as to affect adversely any specific gift; and

(ii) before any such appropriation is effectual, notice thereof shall be given to--

(A) all persons, not under a legal disability, who are interested in the appropriation and whose whereabouts are known to the public trustee; and

(B) a parent or guardian of any infant who is interested in the appropriation; and

(C) any person, other than the public trustee, having the care and management of the estate of any person who is not of full mental capacity and who is interested in the appropriation; and

(iii) the public trustee may alter or amend such appropriation and notice within 1 month from the giving of notice; and

(iv) any such person to whom such notice has been given may--

(A) within 1 month after receipt of the notice or of the notice of amendment where amendment is notified; or

(B) upon the person's application to the court within that month, within such extended period as the court may allow;

apply to the court to vary the appropriation, and the appropriation shall be conclusive save as varied by the court; and

(v) when the whereabouts of any person interested are unknown to the public trustee--the period of 1 month within which such person may apply for the variation of the appropriation may be extended by the court for such period as the court thinks fit on the application of the public trustee or of any person interested; and

(vi) where the court is satisfied there are exceptional circumstances, it may, on the application of the public trustee, vary the appropriation at any other time.