(b) made by the trustee
exercising a power of investment under part 3 or under an order under
section 94; or
(c) authorised by another Act or the general law.
"bank" ...
"bank and savings bank" ...
"bankrupt" includes insolvent.
"benefit" , in relation to any person, includes insurance on the life of that
person.
"commencement of this Act" means the time when this Act (other than sections
94 , 95 , 98 and 99 ) came or comes into operation.
"contingent right" , in relation to land, includes a contingent or executory
interest and a possibility coupled with an interest, whether the object of the
gift or limitation of the interest or possibility is or is not ascertained;
and also a right of entry, whether immediate or future, and whether vested or
contingent.
"conveyance" , as applied to any person, includes the execution or doing by
that person of every necessary or suitable assurance, act, and thing for
conveying, transferring, assigning, appointing, surrendering or otherwise
disposing of property.
"court" means the Supreme Court or a judge thereof.
"execute" includes the doing of all acts and things necessary for a
conveyance, and with reference to an instrument not under seal means sign.
"instrument creating the trust" includes any deed, will, agreement for a
settlement, Act of Parliament, or other instrument, or any number of
instruments, whether made or passed before or after, or partly before and
partly after, the commencement of this Act.
"land" includes—
(a) land of any tenure, and any estate or interest, whether
vested or contingent, in land; and
(g) an easement, right, privilege, share, interest or benefit in, over or
derived from land;
and, in this definition,
"mines and minerals" includes any strata or seams or minerals or substances in
or under any land, and powers of working or getting them and
"hereditament" means real property which under an intestacy might at common
law devolve on an heir.
"lease" includes a bailment.
"Local Authority" ...
"Minister" ...
"mortgagee" includes every person having an estate or interest regarded at law
or in equity as merely a security for money and every person deriving title to
the mortgage under the original mortgagee; and
"mortgage" has a corresponding meaning.
"person" includes a trustee corporation, a corporation sole and a corporation
aggregate.
"personal representative" means the executor, original or by representation,
or the administrator for the time being of the estate of a deceased person.
"person not under a disability" , and any like expression, means a person of
full age and full mental capacity.
"possession" includes receipt of income or the right to receive the income (if
any); and
"possessed" applies to receipt of income of and to any vested estate less than
a life interest, at law or in equity, in possession or in expectancy in any
land.
"property" ...
"public accountant" means—
(a) a person registered, or taken to be
registered, as an auditor under the Corporations Act; or
(b) a member of the
Australian Society of Certified Practising Accountants or the Institute of
Chartered Accountants in Australia; or
(c) a person who holds a public
practising certificate issued by the Institute of Public Accountants and has
completed a tertiary course of study in accounting with an auditing component
from a university or institute prescribed under the Corporations Act, section
1280 (2A) ; or
(d) a person approved by the chief executive who has completed
a tertiary course of study in accounting with an auditing component from a
university or institute prescribed under the Corporations Act, section 1280
(2A) .
"rent" includes a rent service or a rent charge, or other rent, toll, duty,
royalty or annual or periodic payment in money or money’s worth reserved or
issuing out of or charged upon land, but does not include mortgage interest.
"repealed Acts" means the Act s that pursuant to the Trustees and Executors
Acts Amendment Act 1964 might have been cited as the Trustees and Executors
Acts 1897 to 1964 .
"sale" includes an exchange.
"securities" includes debentures, stock and shares; and
"securities payable to bearer" includes securitiestransferable by delivery or
by delivery and endorsement.
"stock" includes shares, and, so far as relates to vesting orders made by the
court under this Act, includes any fund, annuity or security transferable in
books kept by any corporation or society, or by instrument of transfer, either
alone or accompanied by other formalities, and any share or interest therein.
"to convey" ...
"to pay" ...
"to sell" ...
"transfer" , in relation to stock or securities, includes the performance and
execution of every deed, power of attorney, act, and thing on the part of the
transferor to effect and complete the title in the transferee.
"trust" does not include the duties incidental to an estate conveyed by way of
mortgage, but with that exception
"trust" extends to implied, resulting, bare and constructive trusts, and to
cases where the trustee has a beneficial interest in the trust property, and
to the duties incidental to the office of a personal representative.
(b) any other
corporation in which property subject to a trust is vested; and
(c) any
person who immediately before the commencement of this Act was a trustee of
the settlement or in any way a trustee under the Settled Land Act 1886 and
who, if that Act had not been repealed, would be such a trustee; and
(a) property settled on any trust, whether
express, implied, resulting, bare, or constructive; and
(b) property subject
to a trust or direction for sale, however arising; and
(c) land which is
lawfully vested in any person for an estate for the person’s own or any
other life, or for a term of years determinable on life not being a mere lease
at rent, or for any greater estate not being a fee simple absolute; and
(d)
land in respect of which any person has, by virtue of any will, a personal
licence to reside for the person’s own life, or for the life of any other
person or persons, or for any lesser period.
