Northern Territory Consolidated Acts

THE TRUSTEE ACT 1893 AND SHALL COME INTO OPERATION ON A DAY TO BE FIXED BY THE GOVERNOR, - SECT 50B

    (1)     Where the Supreme Court has refused to reform a disposition under section 50A, it may, if satisfied that the person who made the disposition, or his or her personal representative, has become entitled under a resulting trust, make an order vesting the property comprised in the disposition absolutely in the person or, if the person has died, in his or her personal representative on the trusts of the estate of the deceased person.

    (2)     In the case of a disposition referred to in subsection (1), where a person other than a donor of property given to the trustee on trust, has sold other property to the trustee, or has assisted the trustee, by loan, guarantee or otherwise, to acquire other property:

        (a)     the power of the Supreme Court to make a vesting order under that subsection is restricted to so much of the property comprised in the disposition as was given by the donor or fairly attributable to the donor's gift; and

        (b)     the Court may make such order as it thinks fit regarding the remainder of property comprised in the disposition.

    (3)     An application for a vesting order under this section in respect of property comprised in a disposition may be made by:

        (a)     a trustee of the property;

        (b)     a vendor of the property to the trustee or the personal representative of such a vendor; or

        (c)     a person who assisted the trustee, by loan, guarantee or otherwise, to acquire the property, or the personal representative of the person.