Victorian Current Acts Victorian Current ActsS. 131(1)
amended by Nos 83/1987
s.
72(2)(a), 67/1992
s. 45(a),
50/1994
s. 63(1)(b), substituted
by No. 15/1998
s. 4(3).
(1) Except as otherwise provided in section 130, any money administered by a trustee company determined under that section may be invested in any manner in which money may be invested under the Trustee Act 1958 and may be applied in any manner that the trustee company considers appropriate for the benefit of the person entitled to that money.
S. 131(2) amended by Nos 83/1987
s. 72(2)(a), 67/1992
s. 45(a), 50/1994
s. 63(1)(b), repealed by No.
15/1998
s. 4(4).
* * * * *
S. 131(3) substituted by No. 83/1987
s. 72(2)(b), amended by Nos
67/1992
s. 45(b), 50/1993
s. 110(1)(g), repealed by No.
50/1994
s. 63(1)(c).
* * * * *
S. 131(4) amended by Nos 83/1987
s. 72(2)(c)(i)(ii), 67/1992
s. 45(a), 50/1994
s. 63(1)(b), substituted by No.
15/1998
s. 4(5).
(4) If the amount of money administered on behalf of any person by a trustee company determined under section 130 becomes less than an amount determined by the trustee company, the amount shall be paid out by the trustee company to that person.
S. 131(5) substituted by No. 83/1987
s. 72(2)(d), amended by Nos
64/1989
s. 35(h), 67/1992
s. 45(a)(c), 50/1993
s. 110(1)(h), repealed by No.
50/1994
s. 63(1)(c), new s.
131(5) inserted by No. 15/1998
s. 4(5).
(5) A trustee company must, within a reasonable period of time before paying out an amount under subsection (4), give written notice to the person entitled to the money of its intention to pay out that amount.
S. 131(6) repealed by No. 83/1987
s. 72(2)(e), new s. 131(6)
inserted by No. 15/1998
s. 4(5).
(6) A person entitled to money under this section who objects to a determination of the trustee company made under subsection (4) may appeal to the County Court and the Court may make a new determination.