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TRUSTEE ACT 1925 - NOTES

Dictionary

(see s 2)

Note 1     The Legislation Act contains definitions and other provisions relevant to this Act.

Note 2     For example, the Legislation Act, dict, pt 1, defines the following terms:

              •     ACT

              •     affidavit

              •     appoint

              •     asset

              •     child

              •     instrument (see s 14)

              •     interest

              •     land

              •     lawyer

              •     month

              •     person

              •     power

              •     proceeding

              •     property

              •     public trustee

              •     registrar-general

              •     sign

              •     statutory declaration

              •     territory lease

              •     will

              •     year.

"administrator" includes anyone to whom administration of the estate of a dead person is granted, and includes the public trustee acting under the Administration and Probate Act 1929, part 6.

"contingent right", in relation to land, includes—

        (a)     a contingent or executory interest or a possibility coupled with an interest, whether or not the object of the gift or limitation of the interest or possibility is known; and

        (b)     a right of entry, whether immediate or future and vested or contingent.

"conveyance", in relation to a person, includes the execution or doing by the person of everything necessary to convey, assign, appoint, surrender, or otherwise transfer or dispose of, property.

"executor" means the executor to whom probate has been granted, and includes an executor by right of representation.

government securities include government stocks, funds, bonds, debentures and Treasury bills.

"instrument" includes a deed, a will, an agreement for settlement and a law of the Territory, the Commonwealth or a State.

"joint tenant" includes joint owner.

"legal representative" includes executor and administrator.

"mortgage—"

        (a)     for land under the Land Titles Act 1925—see that Act, dictionary; and

        (b)     for other property—includes any estate or interest regarded in equity as only a security for money.

"mortgagee—"

        (a)     for land under the Land Titles Act 1925—see that Act, dictionary; and

        (b)     for other property—includes a person taking title to the mortgage under the original mortgagee.

"mortgagor—"

        (a)     for land under the Land Titles Act 1925—see that Act, dictionary; and

        (b)     for other property—includes any of the following:

              (i)     a person taking title to the equity of redemption under the original mortgagor;

              (ii)     a person entitled to redeem a mortgage, according to his or her interest in the mortgaged property.

"payment into court", for part 4—see section 94F.

"person with a legal disability "means—

        (a)     a child; or

        (b)     a person with a mental disability.

"person with a mental disability "means—

        (a)     in relation to a proceeding—a person (other than a child) who is not legally competent to be a party to the proceeding; and

        (b)     in relation to the doing of something—a person (other than a child) who is not legally competent to do the thing;

and includes such a person even if a guardian or manager has not been appointed for the person under the Guardianship and Management of Property Act 1991.

"possessed" includes—

        (a)     a vested estate less than a life estate, legal or equitable, in possession or expectancy, in property; and

        (b)     the receipt of income from such an estate.

"purchaser" includes—

        (a)     a lessee or mortgagee; and

        (b)     anyone who acquires an interest in property for valuable consideration.

"right" includes estate and interest.

"securities" includes stocks, funds and shares.

"stock" includes—

        (a)     paid-up shares; and

        (b)     in relation to a vesting order—a fund, annuity or security (including a share or interest in such a fund, annuity or security) transferable in books kept by a corporation or by instrument of transfer (including a transfer subject to other requirements).

"transfer", of stock, includes the execution of a deed or power of attorney, and anything else done by the transferor, to give title to the transferee.

"trust"—see section 4 (Meaning of trust).

"trustee"—

        (a)     includes a legal representative, the public trustee and a trustee company; and

        (b)     for part 4 (Payment into court)—see section 94F.

"trustee company," means a trustee company under the Trustee Companies Act 1947.

"trust instrument" means the instrument (if any) creating the trust.

"vesting order" means an order under section 71.

Endnotes

1     About the endnotes

Amending and modifying laws are annotated in the legislation history and the amendment history. Current modifications are not included in the republished law but are set out in the endnotes.

Not all editorial amendments made under the Legislation Act 2001, part 11.3 are annotated in the amendment history. Full details of any amendments can be obtained from the Parliamentary Counsel's Office.

Uncommenced amending laws and expiries are listed in the legislation history and the amendment history. These details are underlined. Uncommenced provisions and amendments are not included in the republished law but are set out in the last endnote.

If all the provisions of the law have been renumbered, a table of renumbered provisions gives details of previous and current numbering.

The endnotes also include a table of earlier republications.

2     Abbreviation key

A = Act

NI = Notifiable instrument

AF = Approved form

o = order

am = amended

om = omitted/repealed

amdt = amendment

ord = ordinance

AR = Assembly resolution

orig = original

ch = chapter

par = paragraph/subparagraph

CN = Commencement notice

pres = present

def = definition

prev = previous

DI = Disallowable instrument

(prev...) = previously

dict = dictionary

pt = part

disallowed = disallowed by the Legislative

r = rule/subrule

Assembly

reloc = relocated

div = division

renum = renumbered

exp = expires/expired

R[X] = Republication No

Gaz = gazette

RI = reissue

hdg = heading

s = section/subsection

IA = Interpretation Act 1967

sch = schedule

ins = inserted/added

sdiv = subdivision

LA = Legislation Act 2001

SL = Subordinate law

LR = legislation register

sub = substituted

LRA = Legislation (Republication) Act 1996

underlining = whole or part not commenced

mod = modified/modification

or to be expired

3     Legislation history

The Trustee Act 1925 (NSW), as in force in NSW immediately before 1 December 1957, was formerly applied in the ACT in a modified form by the Trustee Act 1957.

After its application in the ACT, the Trustee Act 1925 (as it applied in the ACT) was amended (directly or indirectly) by Commonwealth laws made before self-government and ACT laws made after self-government.

The Interpretation Act 1967, section 65 converted all former New South Wales acts in force in the ACT immediately before 10 November 1999 into laws made by the Legislative Assembly.

The Trustee Act 1957 was repealed by the Statute Law Amendment Act 2001 (No 2) and the remaining provisions affecting the operation of the Trustee Act 1925 were incorporated into that Act by amendment.

The provisions of the Conveyancing and Law of Property (Supplemental) Act 1901 (also a former NSW Act) were remade by the Statute Law Amendment Act 2001 (No 2) as part of the Trustee Act 1925. The Conveyancing and Law of Property (Supplemental) Act 1901 has been repealed in NSW.

Before 11 May 1989, ordinances commenced on notification day unless otherwise stated (see Seat of Government (Administration) Act 1910 (Cwlth), s 12).

After 11 May and before 10 November 1999, Acts commenced on notification day unless otherwise stated (see Australian Capital Territory (Self-Government Act 1988 (Cwlth), s 25).

    NSW legislation

Trustee Act 1925 No 14 (NSW)

assented to 8 December 1925

commenced 1 March 1926 (s 1 (2))

as amended by

Trustee (Amendment) Act 1929 No 60 (NSW)

assented to 24 December 1929

commenced 24 December 1929

Statute Law Revision Act 1937 No 35 (NSW)

assented to 23 December 1937

commenced 23 December 1937

Conveyancing, Trustee and Probate (Amendment) Act 1938 No 30 (NSW)

assented to 14 December 1938

commenced 1 January 1939 (s 1 (2) and NSW Gaz 1938 No 188 p 4951)

Trustee and Wills (Emergency Provisions) Act 1940 No 32 (NSW)

assented to 11 November 1940

commenced 11 November 1940

Public Trustee (Amendment) Act 1942 No 26 (NSW)

assented to 14 December 1942

commenced 14 December 1942

    Commonwealth legislation

as applied and modified by

Trustee Act 1957 No 14 (previously Trustee Ordinance 1957)

notified 21 November 1957 (Cwlth Gaz 1957 No 63 p 3538)

commenced 1 December 1957 (s 2)

as amended by

Trustee Ordinance 1968 No 18 s 2

notified 26 September 1968 (Cwlth Gaz 1968 No 78)

commenced 26 September 1968

Trustee Ordinance 1975 No 28 s 3

notified 10 September 1975 (Cwlth Gaz 1975 No S179)

commenced 10 September 1975

Ordinance Revision Ordinance 1978 No 46 sch 2

notified 28 December 1978 (Cwlth Gaz 1978 No S292)

commenced 28 December 1978

Trustee (Amendment) Ordinance 1982 No 27 s 2

notified 25 June 1982 (Cwlth Gaz 1982 No S133)

commenced 25 June 1982

Ordinance Revision (Companies Amendments) Ordinance 1982 No 38 sch 4

notified 30 June 1982 (Cwlth Gaz 1982 No S139)

commenced 1 July 1982 (s 2)

Public Trustee (Miscellaneous Amendments) Ordinance 1985 No 9 sch 2

notified 8 March 1985 (Cwlth Gaz 1985 No S69)

commenced 28 October 1985 (s 2 and Cwlth Gaz 1985 No G42 p 3902)

Perpetuities and Accumulations Ordinance 1985 No 65 s 22

notified 19 December 1985 (Cwlth Gaz 1985 No S542)

commenced 19 December 1985

Limitation Ordinance 1985 No 66 sch

notified 19 December 1985 (Cwlth Gaz 1985 No S542)

commenced 19 December 1985

Administrative Arrangements (Consequential Amendments) Ordinance 1988 No 17 sch 2

notified 22 April 1988 (Cwlth Gaz 1988 No S114)

commenced 22 April 1988

Trustee (Amendment) Ordinance 1988 No 78 s 2

notified 7 December 1988 (Cwlth Gaz 1988 No 46)

commenced 7 December 1988

Self-Government (Consequential Amendments) Ordinance 1989 No 38 sch 1

notified 10 May 1989 (Cwlth Gaz 1989 No S160)

s 1, s 2 commenced 10 May 1989 (s 2 (1))

sch 1 commenced 11 May 1989 (s 2 (2) and Cwlth Gaz 1989 No S164)

    Legislation after becoming Territory enactment

Trustee (Amendment) Act 1990 No 1

notified 2 March 1990 (Gaz 1990 No S8)

commenced 2 March 1990

Financial Institutions (Consequential Amendments) Act 1992 No 30 sch 1

notified 1 July 1992 (Gaz 1992 No S92)

commenced 1 July 1992 (s 2)

Trustee (Amendment) Act 1992 No 50

notified 1 September 1992 (Gaz 1992 No S148)

commenced 1 September 1992

Registrar-General (Consequential Provisions) Act 1993 No 64 sch 1

notified 6 September 1993 (Gaz 1993 No S172)

s 1, s 2 commenced 6 September 1993 (s 2 (1))

sch 1 commenced 1 October 1993 (s 2 (2) and Gaz 1993 No S207)

Public Sector Management (Consequential and Transitional Provisions) Act 1994 No 38 sch pt 78

notified 30 June 1994 (Gaz 1994 No S121)

s 1, s 2 commenced 30 June 1994 (s 2 (1))

sch pt 78 commenced 1 July 1994 (s 2 (2) and Gaz 1994 No S142)

Mental Health (Consequential Provisions) Act 1994 No 45 sch

notified 7 September 1994 (Gaz 1994 No S177)

s 1, s 2 commenced 7 September 1994 (s 2 (1))

sch commenced 6 February 1995 (s 2 (2) and see Gaz 1995 No S33)

Trustee (Amendment) Act 1995 No 26

notified 5 September 1995 (Gaz 1995 No S212)

commenced 5 September 1995 (s 2)

Statute Law Revision Act 1995 No 46 sch

notified 18 December 1995 (Gaz 1995 No S306)

commenced 18 December 1995 (s 2)

Land Titles (Consequential Amendments) Act 1995 No 54 sch pt 1

notified 20 December 1995 (Gaz 1995 No S313)

commenced 20 June 1996 (s 2)

Legal Practitioners (Consequential Amendments) Act 1997 No 96 sch 1

notified 1 December 1997 (Gaz 1997 No S380)

s 1, s 2 commenced 1 December 1997 (s 2 (1))

sch 1 commenced 1 June 1998 (s 2 (2))

Trustee (Amendment) Act 1999 No 28

notified 21 May 1999 (Gaz 1999 No S24)

commenced 21 May 1999 (s 2)

Law Reform (Miscellaneous Provisions) Act 1999 No 66 sch 3

notified 10 November 1999 (Gaz 1999 No 24)

commenced 10 November 1999 (s 2)

Legislation (Consequential Amendments) Act 2001 No 44 pt 395

notified 26 July 2001 (Gaz 2001 No 30)

s 1, s 2 commenced 26 July 2001 (IA s 10B)

pt 395 commenced 12 September 2001 (s 2 and see Gaz 2001 No S65)

Statute Law Amendment Act 2001 (No 2) 2001 No 56 pt 3.49

notified 5 September 2001 (Gaz 2001 No S65)

s 1, s 2 commenced 5 September 2001 (IA s 10B)

amdt 3.828 commenced 12 September 2001 (s 2 (2))

pt 3.49 remainder commenced 5 September 2001 (s 2 (1))

Justice and Community Safety Legislation Amendment Act 2003 A2003-2 pt 18

notified LR 3 March 2003
s 1, s 2 commenced 3 March 2003 (LA s 75 (1))
pt 18 commenced 31 March 2003 (s 2 (2))

Sexuality Discrimination Legislation Amendment Act 2004 A2004-2 sch 1 pt 1.17

notified LR 18 February 2004
s 1, s 2 commenced 18 February 2004 (LA s 75 (1))
sch 1 pt 1.17 commenced 22 March 2004 (s 2 and CN2004-4)

Statute Law Amendment Act 2005 A2005-20 sch 3 pt 3.69

notified LR 12 May 2005

s 1, s 2 taken to have commenced 8 March 2005 (LA s 75 (2))

sch 3 pt 3.69 commenced 2 June 2005 (s 2 (1))

Justice and Community Safety Legislation Amendment Act 2005 (No 3) A2005-43 sch 1 pt 1.14

notified LR 30 August 2005
s 1, s 2 commenced 30 August 2005 (LA s 75 (1))
sch 1 pt 1.14 commenced 1 October 2005 (s 2 (3) and CN2005-18)

Civil Law (Property) Act 2006 A2006-38 sch 1 pt 1.7

notified LR 28 September 2006
s 1, s 2 commenced 28 September 2006 (LA s 75 (1))
sch 1 pt 1.7 commenced 28 March 2007 (s 2 and LA s 79)

Powers of Attorney Act 2006 A2006-50 sch 2 pt 2.5

notified LR 30 November 2006
s 1, s 2 commenced 30 November 2006 (LA s 75 (1))
sch 2 pt 2.5 commenced 30 May 2007 (s 2 and LA s 79)

Statute Law Amendment Act 2007 A2007-3 sch 3 pt 3.109

notified LR 22 March 2007

s 1, s 2 taken to have commenced 1 July 2006 (LA s 75 (2))

amdt 3.536 commenced 12 April 2007 (s 2 (2))

sch 3 pt 3.109 remainder commenced 12 April 2007 (s 2 (1))

Planning and Development (Consequential Amendments) Act 2007 A2007-25 sch 1 pt 1.31

notified LR 13 September 2007
s 1, s 2 commenced 13 September 2007 (LA s 75 (1))

sch 1 pt 1.31 commenced 31 March 2008 (s 2 and see Planning and Development Act 2007 A2007-24, s 2 and CN2008-1)

Justice and Community Safety Legislation Amendment Act 2008 A2008-7 sch 1 pt 1.20

notified LR 16 April 2008

s 1, s 2 commenced 16 April 2008 (LA s 75 (1))

sch 1 pt 1.20 commenced 7 May 2008 (s 2)

Liquor (Consequential Amendments) Act 2010 A2010-43 sch 1 pt 1.23

notified LR 8 November 2010

s 1, s 2 commenced 8 November 2010 (LA s 75 (1))

sch 1 pt 1.23 commenced 1 December 2010 (s 2 (4) and see Liquor Act 2010 A2010-35, s 2 (3) (as am by A2010-43 amdt 1.19) and CN2010-14)

Administrative (One ACT Public Service Miscellaneous Amendments) Act 2011 A2011-22 sch 1 pt 1.158

notified LR 30 June 2011

s 1, s 2 commenced 30 June 2011 (LA s 75 (1))

sch 1 pt 1.158 commenced 1 July 2011 (s 2 (1))

4     Amendment history

Title
title     sub 2001 No 56 amdt 3.488

Preliminary
pt 1 hdg     (prev pt 1 hdg) om 2001 No 56 amdt 3.490
    ins 2001 No 56 amdt 3.489

Name of Act
s 1     am 1957 No 14 sch 2
    sub 2001 No 56 amdt 3.489

Dictionary
s 2     (prev s 2) om 1999 No 28 s 4
    ins 2001 No 56 amdt 3.491

Notes
s 3     (prev s 3) om 1957 sch 2
    ins 2001 No 56 amdt 3.491

Meaning of trust
s 4     (prev s 4) om 1957 sch 2
    ins 2001 No 56 amdt 3.491

Offences against Act—application of Criminal Code etc
s 5     (prev s 5) am 1957 No 14 sch 2 (as am by 1985 No 9 sch 2); 1992 No 50; 1993 No 64; 1994 No 45
    om 2001 No 56 amdt 3.491
    ins A2003-2 s 80

Treatment of unincorporated entities named in trusts
s 5A     ins 1999 No 28 s 5
    om 2001 No 56 amdt 3.491
    ins A2003-2 s 80

Appointment, retirement, disclaimer and ceasing to be executor
div 2.1 hdg     (prev pt 2 div 1 hdg) renum R4 LA (see 2001 No 56 amdt 3.857)

Appointment
hdg before s 6     om 2001 No 56 amdt 3.492

Appointment of new trustees
s 6 hdg     sub 2001 No 56 amdt 3.493
s 6     am NSW 1940 No 32 s 11; 1957 No 14 sch 2; am 2001 No 56 amdts 3.494-508, amdts 3.852-3.854; A2005-20 amdt 3.411

Additional trustee
s 7     am 2001 No 56 amdt 3.509, amdt 3.510, amdt 3.854

Children not to be appointed trustees
s 7A     ins A2006-38 amdt 1.13

Retirement
hdg before s 8     om 2001 No 56 amdt 3.511

Retirement
s 8     am 2001 No 56 amdt 3.512, amdt 3.513, amdt 3.852

Vesting on appointment and retirement
hdg before s 9     om 2001 No 56 amdt 3.514

Vesting on appointment and retirement
s 9 hdg     sub 2001 No 56 amdt 3.515
s 9     am NSW 1938 No 30 s 5; 1957 No 14 sch 2; 1993 No 64; 1995 No 54; 2001 No 56 amdt 3.516-3.524, amdt 3.852

Disclaimer, and ceasing to be executor
hdg before s 10     om 2001 No 56 amdt 3.525

Renunciation of probate
s 10     am NSW 1938 No 30 s 5; 1957 No 14 sch 2 (as am by 1985 No 9); 2001 No 56 amdt 3.526, amdt 3.852, amdt 3.854

Ceasing to be executor
s 11     am 1957 No 14 sch 2; 1993 No 64; 1995 No 54; 2001 No 56 amdt 3.527, amdt 3.528, amdt 3.852

Registration
hdg before s 12     om 2001 No 56 amdt 3.529

Registration
s 12     am 1957 No 14 sch 2; 1993 No 64; 1995 No 54; 2001 No 56 amdt 3.530-3.533, amdt 3.852, amdt 3.855

Protection of purchasers
s 13     am 1957 No 14 sch 2; 1993 No 64; 2001 No 56 amdts 3.534-3.536, amdt 3.852, amdt 3.855

Powers and duties
div 2.2 hdg     (prev pt 2 div 2 hdg) renum R4 LA (see 2001 No 56 amdt 3.857)

Investment
sdiv 2.2.1 hdg     (prev hdg before s 14) sub 2001 No 56 amdt 3.537

Powers of investment
s 14     am NSW 1938 No 30 s 5; 1957 No 14 sch 2 (as am by 1968 No 18; 1975 No 28 s 3; 1978 No 46 sch 2; 1982 No 27 s 2; 1982 No 38 sch 4; 1988 No 17 sch 2; 1988 No 78 s 2; 1989 No 38 sch 1; 1990 No 1 s 3); 1992 No 30; 1992 No 50; 1995 No 26
    sub 1999 No 28 s 6
    am 2001 No 56 amdts 3.538

Duties of trustee in relation to powers of investment
s 14A     ins 1999 No 28 s 6
    am 2001 No 56 amdts 3.538

Law and equity preserved
s 14B     ins 1999 No 28 s 6
    am 2001 No 56 amdt 3.538, amdt 3.539

Exercise of power of investment
s 14C     ins 1999 No 28 s 6
    am 2001 No 56 amdts 3.540

Powers of trustee in relation to securities
s 14D     ins 1999 No 28 s 6
    am 2001 No 56 amdts 3.540

Powers to buy house as residence for beneficiary
s 14E     ins 1999 No 28 s 6
    am 2001 No 56 amdts 3.540

Investment in securities under RITS system
s 14F     ins 1999 No 28 s 6
    am A2005-20 amdt 3.412, amdt 3.413

Interim investment
s 15     am 1957 No 14 sch 2; 1992 No 50
    om 1999 No 28 s 6

Loan for fixed period
s 16     am 1957 No 14 sch 2
    om 1999 No 28 s 6

Accepting a short title
s 17     am 2001 No 56 amdt 3.541, amdt 3.852, amdt 3.854

Ratio of loan to value
s 18     am 1957 No 14 sch 2 (as am by 1989 No 38 sch 1); 2001 No 56 amdt 3.542, amdt 3.852

Loss on authorised security
s 19     am 1999 No 28 s 7; 2001 No 56 amdt 3.543 ,amdt 3.852

Release of part of security
s 20     am 1957 No 14 sch 2; 1993 No 64; 2001 No 56 amdt 3.544, amdt 3.545, amdt 3.852, amdt 3.855

Arrangement with company
s 21     am 2001 No 56 amdts 3.546-3.549, amdt 3.852, amdt 3.853

New shares in company
s 22     am NSW 1938 No 30 s 5; 1995 No 46; 2001 No 56 amdts 3.550-3.554, amdt 3.852; A2005-20 amdt 3.414

Calls on shares
s 23     am 2001 No 56 amdt 3.555, amdt 3.852

Accrued interest on debentures or stock sold or purchased
s 24     am 1957 No 14 sch 2; 1999 No 28 s 8; 2001 No 56 amdt 3.556, amdt 3.852

Continued holding
s 25     am 2001 No 56 amdt 3.557, amdt 3.852
    sub A2005-20 amdt 3.415

Sale and other dealings
sdiv 2.2.2 hdg     (prev hdg before s 26) sub 2001 No 56 amdt 3.558

Powers incidental to sale
s 26     am NSW 1938 No 30 s 5; 1957 No 14 sch 2; 2001 No 56 amdts 3.559-3.566, amdt 3.852, amdt 3.856

Duration of trust or power to sell
s 27     am NSW 1929 No 60 s 2; 2001 No 56 amdt 3.567, amdt 3.568, amdt 3.852

s 27A     ins NSW 1929 No 60 s 3
    om 1957 No 14 sch 2 (as am by 1985 No 65 s 22)

Postponement of sale
s 27B     ins NSW 1929 No 60 s 3
    am 1957 No 14 sch 2; 2001 No 56 amdt 3.569-3.572, amdt 3.852; A2005-20 amdt 3.416

Purchaser under trust for sale
s 27C     ins NSW 1929 No 60 s 3
    am 2001 No 56 amdt 3.852

Application of rule in Howe v Earl of Dartmouth to leases
s 27D     ins 2001 No 56 amdt 3.573
    am A2005-20 amdt 3.417; A2007-25 amdt 1.178

Deferred payment on sale of land
s 28     am NSW 1938 No 30 s 5; 1957 No 14 sch 2; 2001 No 56 amdts 3.574-3.582, amdt 3.852, amdt 3.854; R4 LA; A2005-20 amdt 3.418

Sale or purchase under Conveyancing Act 1919
s 29     om 1957 No 14 sch 2

Depreciatory conditions
s 30     sub 2001 No 56 amdt 3.583

Sale of part of land
s 31     am 2001 No 56 amdt 3.584, amdt 3.585, amdt 3.852

Sale, exchange and partition
s 32 hdg     sub 2001 No 56 amdt 3.586
s 32     am 2001 No 56 amdts 3.587-3.589, amdt 3.852

Power to purchase equity of redemption instead of foreclosure
s 32A     ins NSW 1930 No 30 s 5
    am 1957 No 14 sch 2
    sub 2001 No 56 amdt 3.590

Sale after right of redemption barred
s 33     am NSW 1938 No 30 s 5; 1957 No 14 sch 2; 1993 No 64; 1995 No 54; 2001 No 56 amdt 3.591, amdt 3.592, amdt 3.852

Release of equity of redemption in discharge of mortgage debt
s 34     am 1957 No 14 sch 2; 1993 No 64; 2001 No 56 amdt 3.593, amdt 3.594, amdt 3.852, amdt 3.855

Surrender of onerous lease
s 35     am 1957 No 14 sch 2; 1993 No 64; 2001 No 56 amdt 3.852, amdt 3.855

Leasing
s 36     am 1957 No 14 sch 2; 1993 No 64; 1995 No 54; 2001 No 56 amdts 3.595-3.605, amdt 3.852, amdt 3.856; A2005-20 amdts 3.419-3.421; A2006-38 amdt 1.14, amdt 1.15; ss renum R10 LA (see A2006-38 amdt 1.16); A2007-3 amdt 3.536; A2010-43 amdt 1.71

Renewal of leasehold
s 37     am 2001 No 56 amdts 3.606-3.608, amdt 3.852

Raising money
s 38     am NSW 1930 No 30 s 5; 2001 No 56 amdts 3.609-3.612

Protection of purchasers or mortgagees
s 39     am 2001 No 56 amdt 3.613

Application of income by trustee as mortgagee in possession
s 39A     ins NSW 1930 No 30 s 5
    am 1957 No 14 sch 2; 2001 No 56 amdts 3.614-3.618

Validation of certain payments by trustee—mortgagee in possession
s 39B     ins NSW 1930 No 30 s 5
    am 1957 No 14 sch 2
    om 2001 No 56 amdt 3.619

Property not in possession
sdiv 2.2.3 hdg     (prev hdg before s 40) sub 2001 No 56 amdt 3.620

Powers
s 40     am 2001 No 56 amdts 3.621-3.626, amdt 3.852

Insurance
sdiv 2.2.4 hdg     (prev hdg before s 41) sub 2001 No 56 amdt 3.627

Insurance
s 41     am 2001 No 56 amdt 3.628, amdt 3.852

Application of insurance money
s 42     am 2001 No 56 amdts 3.629-3.633, amdt 3.852, amdt 3.853

Maintenance, advancement and protective trusts
sdiv 2.2.5 hdg     (prev hdg before s 43) sub 2001 No 56 amdt 3.634

Maintenance and accumulation
s 43     am 1957 No 14 sch 2; 2001 No 56 amdts 3.635-3.650, amdt 3.852, amdt 3.853; A2005-20 amdt 3.422; A2006-38 amdt 1.17

Advancement
s 44     am NSW 1938 No 30 s 5; 1957 No 14 sch 2 (as am by 1989 No 38 sch 1); 1992 No 50; 2001 No 56 amdts 3.651-3.653, amdt 3.852 ; A2006-38 amdt 1.18

Protective trusts
s 45     am NSW 1937 No 35 sch 2; 2001 No 56 amdts 3.654-3.659, amdt 3.853; A2004-2 amdts 1.55-1.57
    ss (10)-(12) exp 22 March 2006 (s 45 (11))

Appropriation and payment to public trustee
sdiv 2.2.6 hdg     (prev hdg before s 46) sub 2001 No 56 amdt 3.660

Appropriation
s 46     am NSW 1938 No 30 s 5; 1957 No 14 sch 2; 1993 No 64; 1994 No 45; 2001 No 56 amdts 3.661-3.685, amdt 3.852, amdt 3.854; R4 LA; A2005-20 amdts 3.423-3.425

Payment to public trustee
s 47     am NSW 1942 No 26 s 8; 1957 No 14 sch 2 (as am by 1989 No 38 sch 1); 1994 No 38; 1994 No 45; 2001 No 56 amdts 3.686-3.695, amdt 3.852, amdt 3.854; A2005-20 amdt 3.426, amdt 3.427; A2008-7 amdt 1.76, amdt 1.77; A2011-22 amdt 1.446

Receipts and compounding
sdiv 2.2.7 hdg     (prev hdg before s 48) sub 2001 No 56 amdt 3.696

Receipts
s 48     am 2001 No 56 amdts 3.697-3.699, amdt 3.852
    sub A2005-20 amdt 3.428

Compounding
s 49     am NSW 1938 No 30 s 5; 2001 No 56 amdts 3.700-3.702, amdt 3.852; A2005-20 amdt 3.429, amdt 3.430

Safe custody, audit and valuation
sdiv 2.2.8 hdg     (prev hdg before s 50) sub 2001 No 56 amdt 3.703

Deposit for safe custody
s 50     am 2001 No 56 amdt 3.704, amdt 3.852

Audit
s 51     am 1957 No 14 sch 2; 2001 No 56 amdt 3.705, amdt 3.852, amdt 3.854

Information etc for Minister
s 51A     ins A2003-2 s 81

Minister may require inquiry etc
s 51B     ins A2003-2 s 81

Valuation
s 52     am 2001 No 56 amdt 3.706, amdt 3.707, amdt 3.852

Agents, banks and others
sdiv 2.2.9 hdg     (prev hdg before s 53) sub 2001 No 56 amdt 3.708

Employment of agents
s 53     am 1997 No 96; 2001 No 56 amdts 3.709-3.711, amdt 3.852

Banks
s 54     am NSW 1938 No 30 s 5; 2001 No 56 amdts 3.712-3.716, amdt 3.852; A2005-20 amdt 3.431

Bank may recognise certain signatures and endorsements
s 54A hdg     sub 2001 No 56 amdt 3.717
s 54A     ins NSW 1938 No 30 s 5
    am 2001 No 56 amdts 3.718-3.720; A2005-20 amdt 3.432

Property outside ACT
s 55 hdg     sub 2001 No 56 amdt 3.721
s 55     am 2001 No 56 amdt 3.722, amdt 3.723, amdt 3.852

Undivided interests
s 56     am 2001 No 56 amdt 3.724, amdt 3.725, amdt 3.852

Surviving trustees
sdiv 2.2.10 hdg     (prev hdg before s 57) sub 2001 No 56 amdt 3.726

Two or more trustees
s 57     am 2001 No 56 amdt 3.727, amdt 3.852

Protection of trustees
sdiv 2.2.11 hdg     (prev hdg before s 58) sub 2001 No 56 amdt 3.728

Powers of attorney
s 58     am 2001 No 56 amdt 3.729, amdt 3.852
    sub A2005-20 amdt 3.433

Implied indemnity
s 59     am 2001 No 56 amdt 3.730, amdt 3.731, amdt 3.852

Distribution after notice
s 60     am 1957 No 14 sch 2 (as am by 1989 No 38 sch 1); 1999 No 28 s 9; 2001 No 56 amdts 3.732-3.734

Distribution if estate comprises leaseholds etc
s 61     am 1957 No 14 sch 2; 2001 No 56 amdt 3.853

Personal liability of legal representative or trustee
s 61A     ins NSW 1938 No 30 s 5
    am 2001 No 56 amdt 3.735, amdt 3.736

Notice affecting a trustee
s 62     sub A2005-20 amdt 3.434

Advice
s 63     am 1957 No 14 sch 2; 1997 No 96; 2001 No 56
amdts 3.737-3.745

Delegation
div 2.3 hdg     (prev pt 2 div 3 hdg) renum R4 LA (see 2001 No 56 amdt 3.857)

Execution of trust
s 64     am NSW 1938 No 30 s 5; 1957 No 14 sch 2 (as am by 1989 No 38 sch 1); 2001 No 56 amdts 3.746-3.748, amdt 3.852; A2005-20 amdt 3.435

Consent to exercise of trust or power
s 65     am 1957 No 14 sch 2 (as am by 1989 No 38 sch 1); 2001 No 56 amdt 3.749, amdt 3.852

Person dealing with delegate
s 66     am 2001 No 56 amdts 3.750-3.752, amdt 3.852

Power of attorney
s 67     sub 1957 No 14 sch 2; A2005-20 amdt 3.436; A2006-50 amdt 2.21

Registration
s 68     am 1957 No 14 sch 2; 1993 No 64; 1995 No. 54; 2001 No 56 amdt 3.753, amdt 3.852

Statute of limitations
pt 2 div 4 hdg     om R3 LRA

Statute of limitations
s 69     om 1957 No 14 sch 2 (as am by 1985 No 66 sch)

Powers of Supreme Court
pt 3 hdg     sub 2001 No 56 amdt 3.754

New trustees and vesting orders
div 3.1 hdg     (prev pt 3 div 1 hdg) renum R4 LA (see 2001 No 56 amdt 3.857)

Appointment of new trustees
hdg before s 70     om 2001 No 56 amdt 3.755

New trustees
s 70     am 1957 No 14 sch 2; 2001 No 56 amdts 3.756- 3.760, amdt 3.854
    sub A2003-2 s 82

Vesting orders
hdg before s 71     om 2001 No 56 amdt 3.761

Vesting orders
s 71     am 1994 No 45; 2001 No 56 amdts 3.762-3.767, amdt 3.854; A2005-20 amdt 3.437, amdt 3.438

Contingent rights of unborn person
s 72     am 2001 No 56 amdt 3.768, amdt 3.854

Child beneficiary
s 73 hdg     am 2001 No 56 amdt 3.769
s 73     am 2001 No 56 amdts 3.770-3.773, amdt 3.854

Mortgagee under disability
s 74     am 1994 No 45; 2001 No 56 amdts 3.774-3.777, amdt 3.854

Deceased mortgagee
s 75     am 1957 No 14 sch 2; 1993 No 64; 1995 No 54; 2001 No 56 amdts 3.778-3.781, amdt 3.854; A2005-20 amdts 3.439-3.442

Sale of mortgage of land
s 76     am 1999 No 28 s 10; 2001 No 56 amdts 3.782-3.786, amdt 3.854; A2005-20 amdt 3.443

Specific performance etc
s 77     am 1999 No 28 s 11; 2001 No 56 amdts 3.787-3.790, amdt 3.854, amdt 3.856

Effect of vesting order
s 78     am 1957 No 14 sch 2; 1993 No 64; 1995 No 54; 2001 No 56 amdts 3.791-3.799, amdt 3.854

Appointment of person to convey
s 79     am 2001 No 56 amdt 3.854

Trustees of charities
s 80     am 1999 No 28 s 12; 2001 No 56 amdt 3.854

Dealings and improvements
div 3.2 hdg     (prev pt 3 div 2 hdg) renum R4 LA (see 2001 No 56 amdt 3.857)

Advantageous dealings
s 81     am 1957 No 14 sch 2; 2001 No 56 amdt 3.800, amdt 3.801, amdt 3.852, amdt 3.854; A2005-20 amdt 3.444

Improvements and repairs
s 82     am 1957 No 14 sch 2; 1993 No 64; 2001 No 56
amdts 3.802-3.808, amdt 3.852, amdts 3.854-3.856;
A2005-20 amdt 3.445

Improvements and repairs without Supreme Court's approval
s 83 hdg     (prev s 82A hdg) sub 2001 No 56 amdt 3.809
s 83     orig s 83 am 1957 No 14 sch 2
    om 1999 No 28 s 13
    (prev s 82A) ins NSW 1938 No 30 s 5
    am 1957 No 14 sch 2 (as am by 1989 No 38 sch 1); 1993 No 64; 2001 No 56 amdts 3.810-3.812, amdt 3.852, amdt 3.854, amdt 3.855; A2008-7 amdt 1.78

Sale of child's property
s 84 hdg     sub 2001 No 56 amdt 3.813
s 84     am 1957 No 14 sch 2; 2001 No 56 amdts 3.814-3.816, amdt 3.852

Relief and indemnity
div 3.3 hdg     (prev pt 3 div 3 hdg) renum R4 LA (see 2001 No 56 amdt 3.857)

Excusable breaches of trust
s 85     am 2001 No 56 amdt 3.817, amdt 3.852, amdt 3.854

Division of chattels
s 86     am 2001 No 56 amdt 3.818, amdt 3.819, amdt 3.853, amdt 3.854

Miscellaneous powers
div 3.4 hdg     (prev pt 3 div 4 hdg) renum R4 LA (see 2001 No 56 amdt 3.857)

Division of chattels
s 87     am 2001 No 56 amdt 3.820, amdt 3.854

Order in absence of trustee
s 88 hdg     sub 2001 No 56 amdt 3.821
s 88     am 1997 No 96, 1999 No 28 s 14; 2001 No 56
amdts 3.822-3.824, amdt 3.854

Supreme Court considerations in action for breach of trust
s 89     am 1957 No 14 sch 2
    om 1994 No 45
    ins 1999 No 28 s 15
    am 2001 No 56 amdt 3.854

Power of Supreme Court to set off investment gains and losses
s 89A     ins 1999 No 28 s 15
    am 2001 No 56 amdt 3.854

Postponement of order
s 90     am 1999 No 28 s 16; 2001 No 56 amdt 3.854

Applications and orders
div 3.5 hdg     (prev pt 3 div 5 hdg) renum R4 LA (see 2001 No 56 amdt 3.857)

Orders in other proceedings
s 91     am 1957 No 14 sch 2 (as am by 1989 No 38 sch 1); 1999 No 28 s 17; 1999 No 66 sch 3
    sub 2001 No 56 amdt 3.825

People entitled to apply
s 92     am 2001 No 56 amdt 3.826

Costs
s 93     am 1999 No 28 s 18
    om 2001 No 56 amdt 3.827

Charitable trusts
div 3.6 hdg     (prev pt 3 div 6 hdg) ins 1999 No 66 sch 3
    am 2001 No 44 amdts 1.4103-1.4105
    renum R4 LA (see 2001 No 56 amdt 3.857)

Reference to order made under s 94B
s 94     om 1957 No 14 sch 2
    ins 1999 No 66 sch 3
    sub 2001 No 44 amdt 1.4106
    om 2001 No 56 amdt 3.828

Applications to Supreme Court
s 94A     ins 1999 No 66 sch 3
    sub A2003-2 s 83

Orders of Supreme Court
s 94B     ins 1999 No 66 sch 3
    sub 2001 No 56 amdt 3.829

Notice to Minister
s 94C     ins 1999 No 66 sch 3

Jurisdiction of Supreme Court
s 94D     ins 1999 No 66 sch 3
    om 2001 No 44 amdt 1.4107

Action under Supreme Court order lawful
s 94E     ins 1999 No 66 sch 3

Definitions for pt 4
s 94F     ins 2001 No 56 amdt 3.830

Trustees
s 95     ins 2001 No 56 amdts 3.831-3.837, amdt 3.854

Person liable to person with legal disability
s 96     sub 2001 No 56 amdt 3.838

Life assurance companies
s 97     om 1957 No 14 sch 2

Money or securities
s 98     am 1957 No 14 sch 2; 2001 No 56 amdts 3.839-3.841, amdt 3.854

Trustee
s 99     om 2001 No 56 amdt 3.842

Miscellaneous
pt 5 hdg     sub 2001 No 56 amdt 3.843

Escheat
s 100     om 2001 No 56 amdt 3.844

Property vested in the Chief Justice
s 101     am NSW 1937 No 35 sch 2
    om 1957 No 14 sch 2

Compulsion to account
s 102     sub 1957 No 14 sch 2
    am 2001 No 56 amdt 3.845, amdt 3.854

Indemnity for anything done under Act etc
s 103     sub 2001 No 56 amdt 3.846

Preamble to Charitable Uses Act 1601
s 104     orig s 104 om 1957 No 14 sch 2
    ins 1999 No 28 s 19
    exp 21 May 2001 (s 104 (3))
    (prev s 103A) ins 1999 No 66 sch 3
    am 2001 No 56 amdt 3.848
    renum 2001 No 56 amdt 3.847

Transitional provisions
pt 6 hdg     om R4 LA

Amendment of other Acts
hdg before s 105     om 1957 No 14 sch 2

Illusory etc share valid in law and equity
s 105     orig s 105 om 1957 No 14 sch 2
    (prev s 105) ins 1999 No 28 s 19
    exp 21 May 2001 (s 105 (2))
    ins 2001 No 56 amdt 3.849

Consideration of advice etc by certain trustees
s 106     om 1957 No 14 sch 2
    ins 1999 No 28 s 19
    exp 21 May 2001 (s 105 (2))
    ins A2003-2 s 84

Preamble to Charitable Uses Act 1601
sch 1 hdg     (prev sch hdg) sub 2001 No 56 amdt 3.850
sch 1     (prev sch) om 1957 No 14 sch 2
    ins 1999 No 66 sch 3

Dictionary
dict hdg     sub A2005-20 amdt 3.446
dict     ins 2001 No 56 amdt 3.851
    am A2007-25 amdt 1.179
    def administrator ins 2001 No 56 amdt 3.851
    def contingent right ins 2001 No 56 amdt 3.851
    def conveyance ins 2001 No 56 amdt 3.851
    def executor ins 2001 No 56 amdt 3.851
    def government securities ins 2001 No 56 amdt 3.851
    def instrument ins 2001 No 56 amdt 3.851
    def joint tenant ins 2001 No 56 amdt 3.851
    def legal representative ins 2001 No 56 amdt 3.851
    def mortgage ins 2001 No 56 amdt 3.851
    am A2007-3 amdt 3.537
    def mortgagee ins 2001 No 56 amdt 3.851
    am A2007-3 amdt 3.537
    def mortgagor ins 2001 No 56 amdt 3.851
    am A2007-3 amdt 3.537
    def payment into court ins 2001 No 56 amdt 3.851
    def person with a legal disability ins 2001 No 56 amdt 3.851
    def person with a mental disability ins 2001 No 56 amdt 3.851
    def possessed ins 2001 No 56 amdt 3.851
    def purchaser ins 2001 No 56 amdt 3.851
    def right ins 2001 No 56 amdt 3.851
    def securities ins 2001 No 56 amdt 3.851
    def stock ins 2001 No 56 amdt 3.851
    def transfer ins 2001 No 56 amdt 3.851
    def trust ins 2001 No 56 amdt 3.851
    def trustee ins 2001 No 56 amdt 3.851
    def trustee company ins 2001 No 56 amdt 3.851
    sub A2005-43 amdt 1.42
    def trust instrument ins 2001 No 56 amdt 3.851
    def vesting order ins 2001 No 56 amdt 3.851

5     Earlier republications

Some earlier republications were not numbered. The number in column 1 refers to the publication order.

Since 12 September 2001 every authorised republication has been published in electronic pdf format on the ACT legislation register. A selection of authorised republications have also been published in printed format. These republications are marked with an asterisk (*) in column 1. Electronic and printed versions of an authorised republication are identical.

Republication No

Amendments to

Republication date

1

Act 1992 No 50

1 September 1992

2

Act 1997 No 96

1 June 1998

3

Act 1999 No 28

31 July 1999

4

Act 2001 No 56

23 November 2001

5

A2003-2

31 March 2003

6

A2004-2

22 March 2004

7

A2005-20

2 June 2005

8

A2005-43

1 October 2005

9

A2005-43

23 March 2006

10

A2007-3

28 March 2007

11

A2007-3

12 April 2007

12

A2007-3

30 May 2007

13

A2007-25

31 March 2008

14*

A2008-7

7 May 2008

15

A2010-43

1 December 2010






© Australian Capital Territory 2011

ACT
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Australian Capital Territory

A1925-14

Republication No 16

Effective: 1 July 2011

Republication date: 1 July 2011

Last amendment made by A2011-22





Unauthorised version prepared by ACT Parliamentary Counsel's Office

About this republication

The republished law

This is a republication of the Trustee Act 1925

(including any amendment made under the Legislation Act 2001, part 11.3 (Editorial changes)) as in force on 1 July 2011

. It also includes any commencement, amendment, repeal or expiry affecting this republished law to 1 July 2011

.

The legislation history and amendment history of the republished law are set out in endnotes 3 and 4.

Kinds of republications

The Parliamentary Counsel's Office prepares 2 kinds of republications of ACT laws (see the ACT legislation register at www.legislation.act.gov.au):

              • authorised republications to which the Legislation Act 2001 applies

              • unauthorised republications.

The status of this republication appears on the bottom of each page.

Editorial changes

The Legislation Act 2001, part 11.3 authorises the Parliamentary Counsel to make editorial amendments and other changes of a formal nature when preparing a law for republication. Editorial changes do not change the effect of the law, but have effect as if they had been made by an Act commencing on the republication date (see Legislation Act 2001, s 115 and s 117). The changes are made if the Parliamentary Counsel considers they are desirable to bring the law into line, or more closely into line, with current legislative drafting practice.

This republication does not include amendments made under part 11.3 (see endnote 1).

Uncommenced provisions and amendments

If a provision of the republished law has not commenced, the symbol  U  appears immediately before the provision heading. Any uncommenced amendments that affect this republished law are accessible on the ACT legislation register (www.legislation.act.gov.au). For more information, see the home page for this law on the register.

Modifications

If a provision of the republished law is affected by a current modification, the symbol  M  appears immediately before the provision heading. The text of the modifying provision appears in the endnotes. For the legal status of modifications, see the Legislation Act 2001, section 95.

Penalties

At the republication date, the value of a penalty unit for an offence against this law is $110 for an individual and $550 for a corporation (see Legislation Act 2001, s 133).

ACT
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Australian Capital Territory

Trustee Act 1925


Endnotes

ACT
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Australian Capital Territory

Trustee Act 1925




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