Australian Capital Territory Numbered Acts

PUBLIC TRUSTEE (AMENDMENT) ACT 1996 (NO. 63 OF 1996) - SECT 6

6. Section 61 of the Principal Act is amended—

        (a)     by omitting subsection (4);

    (b)     by omitting from subsection (5) “The Common” and substituting “Subject to this section, the Common”; and

        (c)     by adding at the end the following subsections:

“(8) The Public Trustee is entitled to charge a management fee for the administration of moneys held in the Common Fund Guarantee and Reserve Account.

“(9) A management fee shall be an amount ascertained in accordance with a rate or scale specified in an instrument signed by the Minister for the purposes of this section.

“(10) An instrument under subsection (9) is a disallowable instrument for the purposes of section 10 of the Subordinate Laws Act 1989 .

“(11) A management fee shall be deducted on the last day of each month.”.