South Australian Consolidated Acts South Australian Consolidated Acts11—Power of trustee as to calls on shares
Subject to the instrument creating the trust—
(a) a
trustee may apply capital money subject to a trust in payment of calls on
shares subject to the same trust; and
(b) if
the trustee is a trustee company—it may exercise the powers conferred by
this section despite the shares on which the calls are made being shares in
the trustee company.