New South Wales Consolidated Acts

NSW TRUSTEE AND GUARDIAN ACT 2009 - SECT 65

65 Orders by Supreme Court and NSW Trustee as to property

(1) General power The Supreme Court or the NSW Trustee may make such orders as appear to it necessary for rendering the property and income of a managed person available for the following purposes--

(a) the payment of the debts and engagements of, and otherwise for the benefit of, the person,

(b) the maintenance and benefit of the family of the person,

(c) otherwise as it thinks necessary or desirable for the care and management of the estate of the person.

(2) Orders as to disposal of estate Without limiting the generality of subsection (1), the Supreme Court or the NSW Trustee may order that any property of the person be sold, mortgaged, dealt with or disposed of as the Court or the NSW Trustee thinks most expedient for the purpose of raising or securing or repaying with or without interest money which is to be or which has been applied to any one or more of the following purposes--

(a) payment of the person's debts or engagements,

(b) discharge of any encumbrance on property of the person,

(c) payment of any debt or expenditure incurred for the maintenance (including future maintenance), or otherwise for the benefit, of the person,

(d) payment of the costs of any proceeding under this Act or of any sale or other disposition made under this Act,

(e) payment of such other sum or sums to such person or persons as the Court or the NSW Trustee thinks fit.

(3) Orders as to application of money Without limiting subsection (1), the Supreme Court or the NSW Trustee may authorise and direct the application of money comprising the whole or any part of the estate of the person to any one or more of the following purposes--

(a) the preservation and improvement of the estate of the person,

(b) the taking up of rights to issues of new shares, or options for new shares, to which the person may become entitled by virtue of any shareholdings,

(c) the investment of money, being money not required for the time being for any of the other purposes specified in this subsection, in such manner as the Court or the NSW Trustee thinks fit.

(4) An order by the NSW Trustee is subject to the regulations or to any order of the Supreme Court or to any order of the Civil and Administrative Tribunal (in the case of a person under guardianship).