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TRUSTEE ACT 1936

Table of Provisions

PART A1--Preliminary

  • 1 Short title
  • 4 Interpretation

PART 1--Investments

  • 5 Application of Part
  • 6 Power of trustee to invest
  • 7 Duties of trustee in respect of power of investment
  • 8 Law and equity preserved
  • 9 Matters to which trustee must have regard in exercising power of investment
  • 9A Charitable trustees to consider certain advice etc
  • 10 Powers of trustee in relation to securities
  • 11 Power of trustee as to calls on shares
  • 12 Power to purchase dwelling house as residence for beneficiary
  • 13 Power of trustee to retain investments
  • 13A Loans and investments by trustees not breaches of trust in certain circumstances
  • 13B Limitation of liability of trustee for loss on improper investments
  • 13C Court may take into account investment strategy in action for breach of trust
  • 13D Power of court to set off gains and losses arising from investment
  • 13E Transitional provision

PART 2--Powers and duties of trustees

Division 1--Appointment of new trustees

Division 2--Power of trustee to delegate etc

  • 17 Trustee's power of delegation
  • 17A Power of delegation of members of fighting forces
  • 18 Revocation of power of attorney not effectual as against person in ignorance
  • 19 Trustee's ADI account
  • 19A Power of fiduciaries as to cheques

Division 3--Purchase and sale

  • 20 Power of trustees for sale to sell by auction and convey and to set apart roads and reserves
  • 21 Power to sell subject to depreciating conditions
  • 23 Power to take mortgage for part purchase money
  • 23A Deferred payment on sale of land
  • 23B Sale after right of redemption barred
  • 23C Power to purchase equity of redemption in lieu of foreclosure

Division 4--Miscellaneous powers and liabilities

  • 24 Power to authorise receipt of money by banker or solicitor
  • 25 Powers of trustee as to insurance
  • 25A Repairs to trust property
  • 25B Power of Court to authorise alterations and repairs
  • 25C Power of trustee as to granting leases
  • 26 Power of trustees of renewable leaseholds to renew and raise money for the purpose
  • 26A Power to surrender leases with onerous covenants
  • 27 Power of trustee to give receipts
  • 28 Power for executors and trustees to compound etc
  • 28A Power to release equity of redemption in satisfaction of mortgage debt
  • 28B General power of trustee to raise money
  • 28C Application of income by trustee-mortgagee in possession
  • 29 Distribution of estate after notice by representative or trustee
  • 30 Liability of trustee in respect of rents, covenants etc
  • 31 Shares with contingent liability
  • 32 Powers of two or more trustees
  • 33 Powers of trustees as to maintenance and accumulation
  • 33A Power to apply capital towards advancement and benefit
  • 34A Notice where trustee acts in two or more trusts
  • 35 Liability of trustees
  • 35A Investment of pecuniary bequest
  • 35B Variation of employees' benefit fund

PART 3--Powers of the Court

Division 1--Appointment of new trustees and vesting orders

  • 36 Power of the Court to appoint new trustee
  • 37 Vesting order as to land
  • 38 Contingent rights of unborn trustees
  • 39 Effects of vesting order
  • 40 Power to appoint person to convey
  • 41 Vesting orders as to stock and choses in action
  • 42 Persons entitled to apply for vesting orders
  • 43 Powers of new trustee appointed by Court
  • 44 Power to charge costs on trust estate
  • 45 Trustees of charities
  • 46 Orders made upon certain allegations to be conclusive evidence

Division 2--Payment into Court by trustees and mortgagees

Division 3--Sales of trust property

Division 4--Relief from liability for breach of trust

Division 5--Miscellaneous

  • 58 Power to give judgment in absence of a trustee
  • 59B Advantageous dealings
  • 59C Power of Court to authorise variations of trust

PART 4--Charitable trusts procedure

  • 60 Applications to Supreme Court
  • 61 Application to be accompanied by affidavit
  • 62 Application to be heard in open court
  • 63 Evidence may be brought by affidavit or otherwise
  • 64 Service of application and copy of affidavit
  • 65 Attorney-General may address court at hearing
  • 66 Person may address court with permission of Judge
  • 67 Powers of court in dealing with application
  • 68 Court may order costs
  • 69 Powers of Supreme Court may be exercised by a single Judge
  • 69A Inclusion of non-charitable and invalid purposes not to invalidate a trust
  • 69B Alteration of purposes of charitable trust
  • 69C Recreational charities
  • 69D Trusts may be charitable despite connection to government

PART 5--Special provisions as to appointment of new trustees

  • 70 This Part to be permissive
  • 71 Application of this Part
  • 72 Interpretation
  • 73 Form of appointment of new trustee
  • 74 Extension of power of appointing new trustees
  • 75 Appointment of new trustees may be registered
  • 76 Registration to vest estates in new trustees
  • 77 Registered proprietors
  • 78 Registration with power of disposition to lesser number of joint owners
  • 79 Form of memorandum of appointment of new trustee
  • 80 Verification of memorandum
  • 81 Verification of memorandum in special case
  • 82 Preservation of powers of Registrar-General
  • 83 Preservation of liability of trustee
  • 84 False affidavit or declaration

PART 5A--Records to be kept by trustees and investigations

  • 84A Interpretation
  • 84B Records to be kept by trustee
  • 84C Appointment of inspector
  • 84D Powers of an inspector
  • 84E Reports to be made to Attorney-General
  • 84F Confidentiality

PART 6--Miscellaneous and supplemental

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