New South Wales Consolidated Acts

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Foreign property

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 following purposes--
(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 arising thereby.
(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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