PUBLIC TRUSTEE ACT 1995 - SCHEDULE 1

PUBLIC TRUSTEE ACT 1995 - SCHEDULE 1

Schedule 1—Transitional provisions

1—Interpretation

In this Schedule—

repealed provisions means Part 4 of the Administration and Probate Act 1919 repealed by Schedule 2.

2—Public Trustee

        (1)         The Public Trustee is the same body corporate as the Public Trustee under the repealed provisions.

        (2)         The person holding office as the Public Trustee immediately before the commencement of this Act continues as Public Trustee subject to the provisions of this Act.

3—Court orders etc continued

An order, direction, consent or decision of a court under the repealed provisions is to be taken to be an order, direction, consent or decision of the corresponding kind under this Act and continues in force or effect subject to the provisions of this Act.

4—Appointments to continue

An appointment of the Public Trustee in any capacity made before the commencement of this Act is to be taken to be an appointment of the corresponding kind for the purposes of this Act and continues in force or effect subject to the provisions of this Act.

5—Catherine Helen Spence Memorial Fund

The Public Trustee may continue to hold and administer the fund known as the "Catherine Helen Spence Memorial Fund".

6—Common funds

        (1)         A common fund established by the Public Trustee under the repealed provisions continues as a common fund under Part 5 subject to the provisions of that Part.

        (2)         A determination of the classes of investment for a common fund made by the Public Trustee under the repealed provisions continues as a determination of the corresponding kind under Part 5 subject to the provisions of that Part.

7—Accounts

        (1)         The money in the Common Fund Reserve Account kept by the Treasurer under the repealed provisions must, on the commencement of this Act, be paid by the Treasurer into an account kept by the Public Trustee to meet the operating costs of the Public Trustee.

        (2)         The money in the Income Adjustment Account kept by the Public Trustee under the repealed provisions may be kept by the Public Trustee to meet the operating costs of the Public Trustee.