Western Australian Current Acts

TRUSTEES ACT 1962 - SECT 23

23 .         Calls on shares, trustees’ powers as to

                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 corporation, it may exercise the powers conferred by this section despite the shares on which the calls are made being shares in the trustee corporation.

        [Section 23 inserted: No. 1 of 1997 s. 6.]