New South Wales Consolidated Acts
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TRUSTEE ACT 1925 - SECT 55
55 Foreign property
(1) Where any property subject to a trust or forming part of the estate of a
testator or intestate is in any place outside New South Wales, the trustee may
appoint any person to act as the trustee's agent or attorney for any of the
(a) selling, converting, collecting, getting in, and
executing and perfecting assurances of, or managing, or cultivating, or
otherwise administering the property,
(b) executing or exercising any
discretion trust or power vested in the trustee in relation to the property.
(2) The agent or attorney may be so appointed with such ancillary powers, and
with and subject to such provisions and restrictions as the trustee may think
fit, including a power to appoint substitutes.
(3) The trustee shall not by
reason only of having made the appointment, be responsible for any loss
(4) 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.
(5) This section applies to trusts created
either before or after the commencement of this Act.
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