Victorian Consolidated Legislation

Trustee Companies Act 1984 - SECT 22

Supreme Court may allow additional commission

22. Supreme Court may allow additional commission



(1) When a trustee company at or after the commencement of this section in
connexion with any estate under its administration or management lawfully
carries on or manages (whether alone or in partnership or through an agent)
any business or undertaking or, through a representative or otherwise, takes
any active part in the management or direction of any corporation, the trustee
company may apply to the Supreme Court to fix, in addition to the commission
mentioned in section 21(1), a commission either by way of fee or percentage on
the amount of the interest of the estate in such business, undertaking or
corporation.

(2) The Supreme Court shall have jurisdiction to allow to the trustee company
such additional fee or percentage as the Supreme Court thinks fit having
regard to the work, care, skill and responsibility involved in carrying on,
managing or directing the business, undertaking or company.

(3) If, before 1 July 2000, the Supreme Court fixed an additional commission
under subsection (1) for a trustee company, the trustee company on and after
that day is entitled to receive an additional amount of 10% of the amount of
that commission.