Northern Territory Consolidated Acts

THE TRUSTEE ACT 1893 AND SHALL COME INTO OPERATION ON A DAY TO BE FIXED BY THE GOVERNOR, - SECT 10

Subject to the instrument creating the trust:

        (a)     a trustee may apply capital money subject to a trust in payment of calls on shares subject to the same trust; and

        (b)     if the trustee is a trustee company, it may exercise the powers conferred by this section notwithstanding the shares on which the calls are made being shares in the trustee company.