South Australian Current Acts

TRUSTEE ACT 1936

TABLE OF PROVISIONS

           Long Title

   PART A1--Preliminary

   1.      Short title
   4.      Interpretation

   PART 1--Investments

   5.      Application of Part
   6.      Power of trustee to invest
   7.      Duties of trustee in respect of power of investment
   8.      Law and equity preserved
   9.      Matters to which trustee must have regard in exercising power of investment
   9A.     Charitable trustees to consider certain advice etc
   10.     Powers of trustee in relation to securities
   11.     Power of trustee as to calls on shares
   12.     Power to purchase dwelling house as residence for beneficiary
   13.     Power of trustee to retain investments
   13A.    Loans and investments by trustees not breaches of trust in certain circumstances
   13B.    Limitation of liability of trustee for loss on improper investments
   13C.    Court may take into account investment strategy in action for breach of trust
   13D.    Power of court to set off gains and losses arising from investment
   13E.    Transitional provision

   PART 2--Powers and duties of trustees

           Division 1--Appointment of new trustees

   14.     Power of appointing new trustees
   14A.    Appointment of separate trustees
   14B.    Appointment of additional trustees
   15.     Retirement of trustees
   16.     Vesting of trust property in new or continuing trustees

           Division 2--Power of trustee to delegate etc

   17.     Trustee's power of delegation
   17A.    Power of delegation of members of fighting forces
   18.     Revocation of power of attorney not effectual as against person in ignorance
   19.     Trustee's ADI account
   19A.    Power of fiduciaries as to cheques

           Division 3--Purchase and sale

   20.     Power of trustees for sale to sell by auction and convey and to set apart roads and reserves
   21.     Power to sell subject to depreciating conditions
   23.     Power to take mortgage for part purchase money
   23A.    Deferred payment on sale of land
   23B.    Sale after right of redemption barred
   23C.    Power to purchase equity of redemption in lieu of foreclosure

           Division 4--Miscellaneous powers and liabilities

   24.     Power to authorise receipt of money by banker or solicitor
   25.     Powers of trustee as to insurance
   25A.    Repairs to trust property
   25B.    Power of Court to authorise alterations and repairs
   25C.    Power of trustee as to granting leases
   26.     Power of trustees of renewable leaseholds to renew and raise money for the purpose
   26A.    Power to surrender leases with onerous covenants
   27.     Power of trustee to give receipts
   28.     Power for executors and trustees to compound etc
   28A.    Power to release equity of redemption in satisfaction of mortgage debt
   28B.    General power of trustee to raise money
   28C.    Application of income by trustee-mortgagee in possession
   29.     Distribution of estate after notice by representative or trustee
   30.     Liability of trustee in respect of rents, covenants etc
   31.     Shares with contingent liability
   32.     Powers of two or more trustees
   33.     Powers of trustees as to maintenance and accumulation
   33A.    Power to apply capital towards advancement and benefit
   34A.    Notice where trustee acts in two or more trusts
   35.     Liability of trustees
   35A.    Investment of pecuniary bequest
   35B.    Variation of employees' benefit fund

   PART 3--Powers of the Court

           Division 1--Appointment of new trustees and vesting orders

   36.     Power of the Court to appoint new trustee
   37.     Vesting order as to land
   38.     Contingent rights of unborn trustees
   39.     Effects of vesting order
   40.     Power to appoint person to convey
   41.     Vesting orders as to stock and choses in action
   42.     Persons entitled to apply for vesting orders
   43.     Powers of new trustee appointed by Court
   44.     Power to charge costs on trust estate
   45.     Trustees of charities
   46.     Orders made upon certain allegations to be conclusive evidence

           Division 2--Payment into Court by trustees and mortgagees

   47.     Payment into Court by trustees and mortgagees

           Division 3--Sales of trust property

   48.     Trustee to have power to sell or convey in certain cases
   49.     Power for Court to authorise purchase of trust property by trustee
   50.     Power to sanction sale of land or minerals separately
   51.     Power of trustees to dispose of land held in trust for a church
   52.     Power to apply proceeds of sale, mortgage, or lease
   53.     Power of association holding land in trust for religious purposes to dispose of same
   54.     Restriction of application of Act
   55.     Trustee may sell land with consent of Court

           Division 4--Relief from liability for breach of trust

   56.     Jurisdiction of Supreme Court in cases of breach of trust
   57.     Power to make beneficiary indemnify for breach of trust

           Division 5--Miscellaneous

   58.     Power to give judgment in absence of a trustee
   59B.    Advantageous dealings
   59C.    Power of Court to authorise variations of trust

   PART 4--Charitable trusts procedure

   60.     Applications to Supreme Court
   61.     Application to be accompanied by affidavit
   62.     Application to be heard in open court
   63.     Evidence may be brought by affidavit or otherwise
   64.     Service of application and copy of affidavit
   65.     Attorney-General may address court at hearing
   66.     Person may address court with permission of Judge
   67.     Powers of court in dealing with application
   68.     Court may order costs
   69.     Powers of Supreme Court may be exercised by a single Judge
   69A.    Inclusion of non-charitable and invalid purposes not to invalidate a trust
   69B.    Alteration of purposes of charitable trust
   69C.    Recreational charities
   69D.    Trusts may be charitable despite connection to government

   PART 5--Special provisions as to appointment of new trustees

   70.     This Part to be permissive
   71.     Application of this Part
   72.     Interpretation
   73.     Form of appointment of new trustee
   74.     Extension of power of appointing new trustees
   75.     Appointment of new trustees may be registered
   76.     Registration to vest estates in new trustees
   77.     Registered proprietors
   78.     Registration with power of disposition to lesser number of joint owners
   79.     Form of memorandum of appointment of new trustee
   80.     Verification of memorandum
   81.     Verification of memorandum in special case
   82.     Preservation of powers of Registrar-General
   83.     Preservation of liability of trustee
   84.     False affidavit or declaration

   PART 5A--Records to be kept by trustees and investigations

   84A.    Interpretation
   84B.    Records to be kept by trustee
   84C.    Appointment of inspector
   84D.    Powers of an inspector
   84E.    Reports to be made to Attorney-General
   84F.    Confidentiality

   PART 6--Miscellaneous and supplemental

   85.     Commission concerning person of unsound mind
   86.     Provisions of Act in addition to unrepealed Act
   87.     Application to trustee under Settled Estates Act of provisions as to appointment of trustees
   89.     Registration of vesting order or transfer
   90.     Parties entitled may apply to Court by summons
   91.     Advice and directions of court and commission
   92.     Power to make order in action or matter
   93.     Indemnity
   94.     Regulations
           SCHEDULE 1--Appointment of new trustees
           SCHEDULE 2--Memorandum of the appointment of new trustees
           SCHEDULE 3--Verification of memorandum of appointment of new trustees
           Legislative history