TRUSTEE COMPANIES ACT 1968 - As at 22 November 2012 - Act 56 of 1968

Table of Provisions

• Long Title

PART 1 - PRELIMINARY

• 1 Short title
2. (Repealed) 3. (Repealed)
• 4 Definitions
• 4AA Powers conferred on trustee companies are additional powers
4A. (Repealed)

PART 2 - DUTIES, FUNCTIONS, OFFICES

• 5 Trustee company may act as executor and obtain probate
• 6 Persons entitled to obtain probate of the will or administration with the will annexed may authorise trustee company to apply for administration with will annexed
• 7 Person entitled to obtain administration on intestacy may authorise trustee company to obtain administration
• 8 Saving rights of other persons to administration
• 9 Person entitled to probate may join with trustee company in applying for letters of administration to the trustee company
• 10 Trustee company may act as administrator notwithstanding its incorporation
• 11 Reseal of probate and letters of administration
• 12 Power of trustee companies to elect to administer small estates without grant of administration
• 13 Elections in respect of unadministered balance of an estate
• 14 Notice of filing of election
• 15 Operation of election to administer as regards property out of State
• 16 Revocation of elections filed in error
• 17 Effect of joint grant on application under s 6
• 18 Effect of disclaimer of trustee on authorisation under s 6
• 19 Effect of disclaimer of trustee on joint application under s 9
• 20 Executor or administrator may appoint trustee company in his or her place
• 21 Trustee company may be appointed trustee receiver etc.
• 22 Trustee company may act under power of attorney by an officer of the company etc.
• 23 A holder of certain offices and positions may appoint a trustee company to discharge duties
• 24 Trustee may appoint a trustee company a trustee
• 25 Property vested in trustee company and another as trustees to be held jointly
• 26 Payment of legacies of infants to trustee company
• 27 Appointment of trustee company where person whose consent is required refuses or is unable to consent

PART 3 - POWERS

• 28 General powers of trustee company
• 29 Administrator carrying on intestate’s business
• 30 Power of company in certain cases of devises of realty
• 31 Power to apply income, or capital, for maintenance etc.
• 32 Power to distribute assets of estate after notice on failure of action by claimant creditor
• 33 Power to distribute estate where possible claimants have not claimed
• 34 When trustee company may pay claims without legal proof
• 35 Shares of infants during infancy
36. (Repealed) 36A. (Repealed)
• 37 Contributory investments
• 38 Co-administrator may exercise powers of trustee company
• 39 Certificate by trustee company as to its legal status in any matter
• 40 Application of part 3
41. (Repealed) 42. (Repealed) 44. (Repealed) 45. (Repealed) 45A. (Repealed)

PART 4 - SUPERVISION BY COURT

• 46 Court to act upon affidavit of officer of trustee company
• 47 Application for consent to be by motion
• 48 An officer may attend on behalf of a trustee company, and be personally responsible
• 49 Removal from office
50. (Repealed) 51. (Repealed) 52. (Repealed) 53. (Repealed) 54. (Repealed) 55. (Repealed) 56. (Repealed) 57. (Repealed) 58. (Repealed) 59. (Repealed) 60. (Repealed) 61. (Repealed) 63. (Repealed) 64. (Repealed) 64A. (Repealed) 65. (Repealed) 66. (Repealed) 66A. (Repealed) 66B. (Repealed) 66C. (Repealed) 66D. (Repealed) 66E. (Repealed) 66F. (Repealed) 66G. (Repealed)

PART 5 - MISCELLANEOUS

• 67 Penalty provisions
• 68 Settlors or testators may appoint own solicitors
• 68A When legatee to bear commission on legacy
• 68B Appointment of attorney by trustee company
• 68C Transfer determinations
69. (Repealed)
• 70 Evidence of failure to give notice to a trustee company
• 71 Delegations
72. (Repealed) 73. (Repealed)
• 73A Regulation-making power

PART 6 - TRANSITIONAL PROVISIONS FOR FAIR WORK (COMMONWEALTH POWERS) AND OTHER PROVISIONS ACT 2009

• 74 Definitions for pt 6
• 75 Court may review rate of commission
• 76 Court may review fee
• 77 Filing and passing accounts
• 78 Court may order account
• 79 Investment of capital in name of Treasurer
• 80 Offences
81. (Repealed)

PART 7 - (Repealed)