Australian Capital Territory Current Acts

TRUSTEE ACT 1925

TABLE OF PROVISIONS

           Long Title

   PART 1--PRELIMINARY

   1.      Name of Act  
   2.      Dictionary  
   3.      Notes  
   4.      Meaning of trust  
   5.      Offences against Act—application of Criminal Code etc  
   5A.     Treatment of unincorporated entities named in trusts  

   PART 2--TRUSTEES

           Division 2.1--Appointment, retirement, disclaimer and ceasing to be executor

   6.      Appointment of new trustees  
   7.      Additional trustee  
   7A.     Children not to be appointed trustees  
   8.      Retirement  
   9.      Vesting on appointment and retirement  
   10.     Renunciation of probate  
   11.     Ceasing to be executor  
   12.     Registration  
   13.     Protection of purchasers  

           Division 2.2--Powers and duties

              Subdivision 2.2.1--Investment

   14.     Powers of investment  
   14A.    Duties of trustee in relation to powers of investment  
   14B.    Law and equity preserved  
   14C.    Exercise of power of investment  
   14D.    Powers of trustee in relation to securities  
   14E.    Power to buy house as residence for beneficiary  
   14F.    Investment in securities under RITS system  
   17.     Accepting a short title  
   18.     Ratio of loan to value  
   19.     Loss on authorised security  
   20.     Release of part of security  
   21.     Arrangement with company  
   22.     New shares in company  
   23.     Calls on shares  
   24.     Accrued interest on debentures or stock sold or purchased  
   25.     Continued holding  

              Subdivision 2.2.2--Sale and other dealings

   26.     Powers incidental to sale  
   27.     Duration of trust or power to sell  
   27B.    Postponement of sale  
   27C.    Purchaser under trust for sale  
   27D.    Application of rule in Howe v Earl of Dartmouth to leases  
   28.     Deferred payment on sale of land  
   30.     Depreciatory conditions  
   31.     Sale of part of land  
   32.     Sale, exchange and partition  
   32A.    Power to purchase equity of redemption instead of foreclosure  
   33.     Sale after right of redemption barred  
   34.     Release of equity of redemption in discharge of mortgage debt  
   35.     Surrender of onerous lease  
   36.     Leasing  
   37.     Renewal of renewable leasehold  
   38.     Raising money  
   39.     Protection of purchasers or mortgagees  
   39A.    Application of income by trustee as mortgagee in possession  

              Subdivision 2.2.3--Property not in possession

   40.     Powers  

              Subdivision 2.2.4--Insurance

   41.     Insurance  
   42.     Application of insurance money  

              Subdivision 2.2.5--Maintenance, advancement and protective trusts

   43.     Maintenance and accumulation  
   44.     Advancement  
   45.     Protective trusts  

              Subdivision 2.2.6--Appropriation and payment to public trustee and
              guardian

   46.     Appropriation  
   47.     Payment to public trustee and guardian  

              Subdivision 2.2.7--Receipts and compounding

   48.     Receipts  
   49.     Compounding  

              Subdivision 2.2.8--Safe custody, audit and valuation

   50.     Deposit for safe custody  
   51.     Audit  
   51A.    Information etc for Minister  
   51B.    Minister may require inquiry etc  
   52.     Valuation  

              Subdivision 2.2.9--Agents, banks and others

   53.     Employment of agents  
   54.     Banks  
   54A.    Bank may recognise certain signatures and endorsements  
   55.     Property outside ACT  
   56.     Undivided interests  

              Subdivision 2.2.10--Surviving trustees

   57.     Two or more trustees  

              Subdivision 2.2.11--Protection of trustees

   58.     Powers of attorney  
   59.     Implied indemnity  
   60.     Distribution after notice  
   61.     Distribution where estate comprises leaseholds, and in certain other  
   61A.    Personal liability of legal representative or trustee  
   62.     Notice affecting a trustee  
   63.     Advice  

           Division 2.3--Delegation

   64.     Execution of trust  
   65.     Consent to exercise of trust or power  
   66.     Person dealing with delegate  
   67.     Power of attorney  
   68.     Registration  

   PART 3--POWERS OF SUPREME COURT

           Division 3.1--New trustees and vesting orders

   70.     New trustees  
   71.     Vesting orders  
   72.     Contingent rights of unborn person  
   73.     Child beneficiary  
   74.     Mortgagee under disability  
   75.     Deceased mortgagee  
   76.     Sale or mortgage of land  
   77.     Specific performance etc  
   78.     Effect of vesting order  
   79.     Appointment of person to convey  
   80.     Trustees of charities  

           Division 3.2--Dealings and improvements

   81.     Advantageous dealings  
   82.     Improvements and repairs  
   83.     Improvements and repairs without Supreme Court's approval  
   84.     Sale of child's property  

           Division 3.3--Relief and indemnity

   85.     Excusable breaches of trust  
   86.     Indemnity for breach of trust  

           Division 3.4--Miscellaneous powers

   87.     Division of chattels  
   88.     Order in absence of trustee  
   89.     Supreme Court considerations in action for breach of trust  
   89A.    Power of Supreme Court to set off investment gains and losses  
   90.     Postponement of order  

           Division 3.5--Applications and orders

   91.     Orders in other proceedings  
   92.     People entitled to apply  

           Division 3.6--Charitable trusts

   94A.    Applications to Supreme Court  
   94B.    Orders of Supreme Court  
   94C.    Notice to Minister  
   94E.    Action under Supreme Court order lawful  

   PART 4--PAYMENT INTO COURT

   94F.    Definitions for pt 4  
   95.     Trustees  
   96.     Person liable to person with legal disability  
   98.     Money or securities  

   PART 5--MISCELLANEOUS

   102.    Compulsion to account  
   103.    Indemnity for anything done under Act etc  
   104.    Preamble to Charitable Uses Act 1601  
   105.    Illusory etc share valid in law and equity  
   106.    Consideration of advice etc by certain trustees  
           SCHEDULE 1
           DICTIONARY
           ENDNOTES