Australian Capital Territory Current Acts Australian Capital Territory Current Acts(1) If section 20 (1) (a) or (c) applies to a person who is appointed by a will both executor and trustee, the person is taken to have disclaimed the trust contained in the will.
(2) If—
(a) section 20 (1) (a), (b) or (c) applies to a person who is appointed by a will both executor and trustee, and administration with the will annexed is granted to a trustee company; or
(b) a person appointed by a will both executor and trustee authorises a trustee company to apply for administration with the will annexed, and administration with the will annexed is granted to the trustee company;
the trustee company is taken, because of the grant of administration and without any further appointment, to be appointed trustee of the will in the person's place.
(3) In this section:
"trustee company"—see the Trustee Companies Act 1947
, dictionary.