New South Wales Consolidated Acts

NSW TRUSTEE AND GUARDIAN ACT 2009 - SECT 16

16 Powers of NSW Trustee relating to property and other matters

(cf PT Act, s 35, PE Act, s 24)

(1) The NSW Trustee may exercise the following functions when acting in a trust capacity or protective capacity--

(a) receive money, rent, income and profit of real and personal property,

(b) grant leases of property for a term not exceeding 10 years and give to a lessee an option of renewal if the aggregate duration of the lease and any such renewal does not exceed 10 years,

(c) enter into a share-farming agreement for a period not exceeding 3 years,

(d) surrender a lease and accept a new lease,

(e) accept a surrender of a lease and grant a new lease,

(f) execute a power of leasing vested in a person having a limited estate only in the property over which the power extends,

(g) buy, sell, realise and mortgage (with or without a power of sale) real and personal property,

Note : Mortgage includes charge (see section 3 (1)).

(h) pay interest secured by a mortgage out of capital, if income is insufficient,

(i) postpone the sale, calling in and conversion of any property that the NSW Trustee has a duty to sell, other than property that is of a wasting, speculative or reversionary nature,

(j) settle, adjust and compromise a demand made by or against the estate,

(k) exchange or join in a partition of property and give or receive money for equality of exchange or partition,

(l) carry on a business, so far as may appear desirable for the purpose of more advantageously disposing of, or winding up, the business or preserving the business of a managed person until the managed person is able to carry it on,

(m) agree to an alteration of the conditions of a partnership into which a managed person has entered, for the purpose of more advantageously disposing of an interest in the partnership or terminating liability,

(n) carry out a contract entered into before the appointment of the NSW Trustee or enter into an agreement terminating the liability,

(o) surrender, assign or otherwise dispose of, with or without consideration, onerous property,

(p) exercise a power, or give a consent required for the exercise of a power, where the power is vested in a managed person for the benefit of the person or the power of consent is in the nature of a beneficial interest in the person,

(q) sequestrate the estate under the bankruptcy laws,

(r) take proceedings to cause a company to be placed in liquidation and vote or act by proxy at meetings of creditors or shareholders, whether the company is in liquidation or not,

(s) bring and defend actions, suits and other proceedings,

(t) without limiting paragraph (s), take criminal proceedings touching or concerning property,

(u) pay rates, taxes, assessments, insurance premiums, debts, obligations, costs and expenses and other outgoings,

(v) without limiting paragraph (u), pay the reasonable costs of the erection of a memorial or a tombstone over the grave of a deceased person or, if a deceased person is cremated, the reasonable costs of a memorial or any arrangements for the preservation of the ashes of the deceased person,

(w) repair and insure against fire or accident any property and charge the cost of repairs to capital or income, or apportion the cost between capital and income, as the NSW Trustee considers equitable,

(x) bring land under the Real Property Act 1900 ,

(y) do or omit all things, and execute all documents, necessary to carry into effect the functions of the NSW Trustee.

(2) The functions conferred by this section are in addition to, and do not restrict, any other functions of the NSW Trustee.