Victorian Consolidated Legislation

Trustee Companies Act 1984 - SECT 35

Trustee company to give information to Minister

35. Trustee company to give information to Minister



(1) A trustee company shall furnish to the Minister such information in
writing or statements in respect of its business as the Minister directs
within such time as is specified by the Minister.

Penalty: 20 penalty units.

(2) The Commissioner may inspect without charge any book kept by a trustee
company, including any book relating to estates managed or administered by the
trustee company.

(3) The Minister may, where it appears to the Minister to be necessary or
advisable, cause to be carried out-

   (a)  a review of the operations of a trustee company;

   (b)  an audit of the books and accounts of a trustee company (including the
        books and accounts of any of the estates managed or administered by
        the trustee company); or

   (c)  both the review and the audit.

(4) For the purposes of any review or audit under subsection (3), a trustee
company shall-

   (a)  deliver to any person authorized by the Minister to that effect a list
        of all books kept by it;

   (b)  produce to that person at all reasonable times when required the books
        kept by it and all accounts, vouchers, papers and other documents of
        the trustee company; and

   (c)  afford that person all necessary information and all other necessary
        facilities for enabling that person to carry out that review or audit.

Penalty: 20 penalty units.

(5) Unless the Minister otherwise directs, the cost of any audit or review
under this section shall be borne by the trustee company and may be recovered
by the Minister in any court of competent jurisdiction as a debt due to the
Crown.

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