ADMINISTRATION AND PROBATE ACT 1919 - SECT 121A
ADMINISTRATION AND PROBATE ACT 1919 - SECT 121A
121A—Statement of assets and liabilities to be provided with application
for probate or administration
(a) for
probate or administration; or
(b) for
the sealing of any probate or administration granted by a foreign court,
in respect of the estate of a deceased person shall, in accordance with the
rules, disclose to the Court the assets and liabilities of the deceased person
known to him at the time of making the application.
(2) An executor,
administrator or trustee of the estate of a deceased person (being an estate
in respect of which probate or administration has been granted or sealed by
the Court) shall, in accordance with the rules, disclose to the Court any
assets or liabilities of the deceased person (not being assets or liabilities
previously disclosed under this section) which come to his knowledge while
acting in that capacity.
(2a) Where the
deceased person was not, at the time of death, domiciled in Australia, the
disclosure under subsection (1) or (2) is only required in respect
of—
(a)
assets situated in Australia; and
(b)
liabilities that are a charge on those assets or arose in Australia.
(3) An executor,
administrator or trustee of an estate shall not dispose of an asset of the
estate in respect of which disclosure has not been made to the Court pursuant
to this section.
(4) Nothing in
subsection (3) affects the interests of a person who acquires an asset of
an estate in good faith for valuable consideration and without knowing that
the asset has not been disclosed to the Court pursuant to this section.
(5) An executor,
administrator or trustee who contravenes or fails to comply with a provision
of this section is guilty of a summary offence and liable to a penalty not
exceeding two thousand dollars.
(6) This section does
not apply in respect of an estate of a deceased person who died before the
commencement of this section.
(7) A reference in
this section to the assets and liabilities of a deceased person is a reference
to—
(a)
assets and liabilities of the deceased at the date of his death; and
(b)
assets falling into the estate after the death of the deceased not being an
accretion to the estate arising out of an asset existing at the date of his
death,
but does not include a reference to any asset or liability prescribed by the
rules.
(7a) For the purposes
of subsection (2a), if—
(a) it
is uncertain whether an asset is situated, or a liability arose, in Australia
or elsewhere; or
(b) an
asset is situated, or a liability arose, in part in Australia and in part
elsewhere,
the asset will be taken to be situated, or the liability will be taken to have
arisen in Australia.
(8) In this
section—
"administration" includes an order under section 9 of the
Public Trustee Act 1995 authorising the Public Trustee to administer the
estate of a deceased person.