New South Wales Consolidated Acts
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TRUSTEE ACT 1925 - SECT 23
Calls on shares
23 Calls on shares
(1) A trustee may apply capital money subject to a trust in payment of the
calls on any shares subject to the trust.
(2) This section applies only if
and as far as a contrary intention is not expressed in the instrument, if any,
creating the trust, and shall have effect subject to the terms of that
instrument and to the provisions therein contained.
(3) This section applies
to trusts created either before or after the commencement of this Act.
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