Victorian Consolidated Legislation

Trustee Companies Act 1984 - SECT 19

Managing director or manager may act

19. Managing director or manager may act



(1) Where a trustee company is appointed or acts in any of the offices
referred to in section 14, 16 or 17 the managing director or manager of the
trustee company may make any personal attendances required and may discharge
any personal duties on behalf of the trustee company.



(2) Where a trustee company is appointed or acts in any of the offices
referred to in subsection (1)-

   (a)  all the capital of the trustee company and all other assets of the
        trustee company shall be liable for the proper discharge of the office
        in which the trustee company was appointed or acted; and

   (b)  the directors and manager of the trustee company shall be individually
        and collectively responsible for the proper discharge, during the
        respective tenures of their offices as directors or manager, of the
        office in which the trustee company was appointed or acted.