Tasmanian Consolidated Acts

TRUSTEE COMPANIES ACT 1953

- Act 72 of 1953
- Royal Assent 9 December 1953

TABLE OF PROVISIONS

           Long Title

   PART I - Preliminary

   1.      1. Short title
   2.      2. Repeal
   3.      3. Interpretation
   4.      4. Declaration of companies, &c., to be trustee companies
   4A.     4A. Trustee holding companies

   PART II - Trustee Companies Division 1 - Administration of estates

   5.      5. Power of trustee company to act as executor
   6.      6. Power of trustee company to act as administrator
   7.      7. Power of courts, &c., to appoint trustee company as
           trustee, receiver, &c.
   8.      8. Power of person entitled to probate to authorize trustee
           company to obtain probate
   9.      9. Power of person entitled to administration to authorize
           trustee company to obtain administration
   10.     10. Power of trustee company to act jointly with other persons
           or to obtain probate with leave to other persons to come in and
           prove
   10A.    10A. Election to administer small estates without grant of
           probate, &c.
   11.     11. Power of Court to act on affidavit of secretary of trustee
           company
   12.     12. Liability of assets of trustee company sufficient security in
           lieu of administration bond
   13.     13. Power of trustee company to act under power of attorney
   14.     14. Power to appoint trustee company as temporary executor,
           &c.
   15.     15. Power of executors, &c., to appoint trustee company to
           discharge their duties
   15A.    15A. Power of trustee company to undertake other services
   15B.    15B. Loans from estates to related corporations prohibited
   15C.    15C. No trust estate to be liable under guarantee from trustee
           company unless given on behalf of that estate
   16.     16. Power of trustee company to act as if it were a natural
           person
   17.     17. Power of secretary to attend on behalf of trustee company
   17A.    17A. Borrowing by trustee companies
   18.     18. Commission chargeable by trustee company
   18A.    18A. Management charge in respect of charitable trusts, &c.

           Division 2 - General powers

   18B.    18B. Power of trustee company to undertake other services
   18C.    18C. Power of trustee companies to establish Common Funds
   18D.    18D. Power of trustee company to mix funds for investment
   18E.    18E. Investment by trustee company of its own funds

           Division 3 - Duties of trustee companies

   18F.    18F. Duty of trustee company not to acquire shares in itself
   18G.    18G. Trustee company to give information to Attorney-General where
           directed
   18H.    18H. Declaration by trustee company
   18I.    18I. 
   18J.    18J. Employment of Australian legal practitioner by trustee
           company

           Division 4 - Control of trustee companies

   19.     19. Power of Court to remove trustee company from office
   20.     20. Order for account
   21.     21. Order for audit
   22.     22. Power of Court to restrain voluntary winding up of trustee
           company
   23.     23. 
   24.     24. 
   25.     25. 

           Division 5 - Distribution of deceased estates

   26.     26. Power of trustee company to distribute assets without regard
           to claims of creditors after notice and failure of creditors to
           take proceedings
   27.     27. Power of trustee company to distribute estate where possible
           claimants have not claimed
   28.     28. Power of trustee company to make advances to beneficiaries

   PART III - Miscellaneous and Supplemental Division 1 - Restrictions
   on classes of business

   29.     29. Restrictions on classes of business that may be undertaken
           by trustee company

           Division 2 - Accounts and audit

   30.     30. Trustee company to keep separate accounts of each estate
   31.     31. Assets of trustee company liable for proper discharge of
           company's duties
   32.     32. Trustee company to pay certain unclaimed moneys to Public
           Trustee
   33.     33. Transfer of securities to Public Trustee
   34.     34. Notice of unclaimed trust moneys
   34A.    34A. Powers and duties of auditors of trustee companies

           Division 3 - Powers of Supreme Court

   35.     35. 
   36.     36. Power of Court to make order for account on application of
           Public Trustee

           Division 4 - Miscellaneous

   37.     37. Unclaimed money to be paid to Treasurer, &c.
   38.     38. Saving of rights of other companies, &c.
   39.     39. Trustee company to insure for uncalled liability
   39AA.   39AA. Provisions relating to holding, &c., of shares in
           trustee companies and trustee holding companies
   39A.    39A. Certificate of trustee company to be accepted as evidence
   40.     40. Saving of incorporation and powers of trustee companies
   40AA.   40AA. Transitional
   40A.    40A. Regulations
   41.     41. Rules of Court
           SCHEDULE 1
           SCHEDULE 2
           SCHEDULE 2a
           SCHEDULE 3
           SCHEDULE 4
           SCHEDULE 5


[ Note: This table has been automatically generated and may be incomplete. ]