Western Australian Consolidated Acts Western Australian Consolidated Acts (1) The Public Trustee
may make advances out of moneys standing to the credit of the Common Account
for the purposes of any trust or estate in course of administration or about
to be administered by him.
(2) Where an estate is
under administration by him, and there is no money or not sufficient money
available to make payments required to be made on account of such estate,
whether to the persons entitled thereto or to a share or interest therein or
otherwise, he may advance and pay for or on account of such estate any sum of
money (not exceeding in the whole one-half the total value of the property)
which he is authorised or required to pay.
(3) Where an estate is
under administration by him, and any person entitled to a share of that estate
desires an advance against his share, he may make advances to that person not
exceeding in the whole one-half of the value of the share as estimated by the
Public Trustee.
(4) All sums so
advanced, with all interest thereon, shall be a first charge upon all the
property of the estate, or the share advanced against, as the case may be, and
shall bear interest at the rate fixed by the Public Trustee, but not exceeding
5% per annum, except with the approval of the Minister.
(4a) The interest
payable under subsection (4) may be debited against an account of the
estate in a Fund on the first day of the months of April and October in each
year.
(5) All interest
received under this provision shall be credited to the Common Account.
(6) A certificate
under the hand and seal of the Public Trustee, stating the amount owing for
advances and interest on any specified date, by the estate or person to whom
the advances were made, and the share, if any, against which they were made,
shall be sufficient evidence of the facts until the contrary is proved.
[Section 44 amended by No. 113 of 1965
s. 8; No. 49 of 1996 s. 64; No. 77 of 2006 s. 17; No.
9 of 2008 s. 27.]