{"id":"anz-executors-trustee-company-act-1983","name":"ANZ Executors & Trustee Company Act 1983","slug":"anz-executors-trustee-company-act-1983","collection":"act","jurisdiction":"vic","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":28692,"registerId":"vic-anz-executors-trustee-company-act-1983-current","compilationNumber":null,"startDate":"2026-04-01","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ANZ Executors & Trustee Company Act 1983","content":"Version No. 011\nANZ Executors & Trustee Company Act\n1983\nNo. 9898 of 1983\nVersion incorporating amendments as at 8 February 2008\nTABLE OF PROVISIONS\nSection Page\nPART I—PRELIMINARY 2\n1 Short title, commencement and Division into Parts 2\n2 Definitions 3\nPART II—ALTERATIONS TO THE STRUCTURE CAPITAL\nAND NAME OF GARIWANG PTY. LTD. 8\n3 Alterations to the structure, capital and name of Gariwang\nPty. Ltd. 8\nPART III—ALTERATION OF THE NAME OF THE TRUSTEES\nEXECUTORS & AGENCY COMPANY LIMITED 9\n4 Alteration of the name of the Trustees Executors & Agency\nCompany Limited 9\nPART IV—Repealed 9\n5 Repealed 9\nPART V—TRANSFER OF THE TRUST BUSINESS AND\nAPPOINTMENTS OF THE OLD TRUSTEE TO THE NEW\nTRUSTEE 10\n6 Definition 10\n7 Transfer of the trust business and appointments of the Old\nTrustee to the New Trustee 10\n8 Evidence 12\n═══════════════\ni\n\nSection Page\nENDNOTES 13\n1. General Information 13\n2. Table of Amendments 14\n3. Explanatory Details 15\nii\n\nVersion No. 011\nANZ Executors & Trustee Company Act\n1983\nNo. 9898 of 1983\nVersion incorporating amendments as at 8 February 2008\nAn Act to amend the Trustee Companies Act 1958, to provide\nfor the transfer to a wholly owned subsidiary of Australia and\nNew Zealand Banking Group Limited of the trust business of\nThe Trustees Executors & Agency Company Limited and for\nother purposes.\nPreamble\nWHEREAS Australia and New Zealand Banking\nGroup Limited (in this preamble referred to as\nthe Bank) is a company within the meaning of the\nCompanies (Victoria) Code:\nAND WHEREAS Gariwang Pty. Ltd. (in this\npreamble referred to as the New Trustee) is a\ncompany within the meaning of the Companies\n(Victoria) Code:\nAND WHEREAS The Trustees Executors &\nAgency Company Limited (in this preamble\nreferred to as the Old Trustee) is a company within\nthe meaning of the Companies (Victoria) Code:\nAND WHEREAS by order of the Supreme Court\nof Victoria made on 31 May 1983 joint provisional\nliquidators were appointed to the Old Trustee:\nAND WHEREAS the Old Trustee is a trustee\ncompany within the meaning of the Trustee\nCompanies Act 1958:\nAND WHEREAS the provisional liquidators of the\nOld Trustee have entered into an agreement with\nthe Bank whereby for an agreed price the Old\nTrustee will transfer all of its business of acting as\n1\n\nPart I—Preliminary\nANZ Executors & Trustee Company Act 1983\nNo. 9898 of 1983\ns. 1\na trustee to the New Trustee and the New Trustee\nwill be appointed in place of the Old Trustee in all\nof its trust business:\nAND WHEREAS it is expedient in the interests of\nthe effective and efficient administration of the\ntrusts of which the Old Trustee is the trustee and in\nthe interests of public confidence that the business\nof acting as trustee and all the appointments of the\nOld Trustee be transferred to the New Trustee\neconomically, quickly and without interference\nwith the administration of those trusts:\nAND WHEREAS to transfer the business of acting\nas trustee and all the appointments of the Old\nTrustee to the New Trustee it is expedient to enact\nthe provisions contained in this Act:\nBE IT THEREFORE ENACTED by the Queen's Most Excellent\nMajesty by and with the advice and consent of the Legislative\nCouncil and the Legislative Assembly of Victoria in this present\nParliament assembled and by the authority of the same as follows\n(that is to say):\nPART I—PRELIMINARY\n1 Short title, commencement and Division into Parts\n(1) This Act may be cited as the ANZ Executors &\nTrustee Company Act 1983.\n(2) This Act shall come into operation as follows—\n(a) Parts I and II shall come into operation on\nthe day on which this Act receives the Royal\nAssent; and\n(b) Parts III, IV and V shall come into operation\non a day to be fixed by proclamation of the\nGovernor in Council published in the\nGovernment Gazette.\n2\n\nPart I—Preliminary\nANZ Executors & Trustee Company Act 1983\nNo. 9898 of 1983\ns. 2\n(3) This Act is divided into Parts as follows:\nPart I—Preliminary ss 1–2\nPart II—Alterations to the Structure Capital\nand Name of Gariwang Pty. Ltd. s. 3\nPart III—Alteration of the Name of The\nTrustees Executors & Agency\nCompany Limited s. 4\nPart IV—Amendments to the Trustee\nCompanies Act 1958 s. 5\nPart V—Transfer of the Trust Business and\nAppointments of the Old Trustee to\nthe New Trustee ss 6–8.\n2 Definitions\nIn this Act unless inconsistent with the context or\nsubject-matter—\nBank means Australia and New Zealand Banking\nGroup Limited;\nexcluded items means—\n(a) all assets held by or for the Old Trustee\nof which the Old Trustee is the\nbeneficial owner (other than the assets\nincluded in the definition of the trust\nbusiness of the Old Trustee);\n(b) all rights of the Old Trustee to any\nsecurity deposits or similar sums or\nassets lodged with any court, public\noffice or authority (including\ndebentures or inscribed stock invested\nin by the Old Trustee pursuant to\nsection 10 of the Trustee Companies\nAct 1958);\n(c) all liabilities of the Old Trustee present\nor future certain or contingent\nascertained or sounding only in\n3\n\nPart I—Preliminary\nANZ Executors & Trustee Company Act 1983\nNo. 9898 of 1983\ns. 2\ndamages and all claims by persons\nagainst the Old Trustee and any officer\nof the Old Trustee in respect of breach\nof trust, misfeasance non-feasance or\nthe exercise of or failure to exercise\ndiscretion in acting in the capacity of\ntrustee, including claims in respect of\nany deficiency in trust assets whether or\nnot the claims have been notified or\nascertained;\n(d) the right of the Old Trustee to\nindemnity under any insurance policy\nheld by it other than in the capacity of\ntrustee;\n(e) the right to contribution by members\nand ex-members of the Old Trustee\npursuant to clause 1 of the Second\nSchedule to the Trustee Companies\nAct 1958; and\n(f) all the assets undertakings and\nliabilities of the Old Trustee in its\nbusinesses of property developer,\npackager of projects, entrepreneur,\nproperty owner, renovator and dealer,\nshort-term money market dealer,\nmortgage lender of its own money,\ndealer in securities and any other\nbusinesses it conducted on its own\nbehalf;\nin the capacity of trustee means (whether alone or\njointly with any other person)—\n(a) as trustee or custodian trustee of any\ntrust deed, settlement, covenant,\nagreement or will, whether originally so\nappointed or not and whether appointed\nunder hand or seal or by order of a\ncourt or otherwise;\n4\n\nPart I—Preliminary\nANZ Executors & Trustee Company Act 1983\nNo. 9898 of 1983\ns. 2\n(b) as executor of a will of a deceased\nperson;\n(c) as administrator of the estate of a\ndeceased person;\n(d) as judicial trustee appointed by order of\nany court;\n(e) as agent, attorney or nominee; or\n(f) as receiver, committee or guardian of\nestates under the Mental Health Act\n1959 or the Public Trustee Act 1958\nor as guarantor or surety or guardian of\na minor or lunatic;\nland includes any estate, interest or right in over\nor under land;\nOld Trustee means The Trustees Executors &\nAgency Company Limited;\nthe trust business of the Old Trustee means the\nbusiness of the Old Trustee of acting in the\ncapacity of trustee and includes—\n(a) the assets held on trust by the Old\nTrustee including all records, securities\nand other documents and information\nwhether recorded on paper, microfilm,\nmagnetic tape or disc or otherwise held\nor maintained by the Old Trustee in its\ncapacity of trustee;\n(b) the liabilities and obligations properly\nincurred by the Old Trustee acting in\nthe capacity of trustee including\nundertakings to courts and public\nofficers and authorities;\n(c) the rights of indemnity of the Old\nTrustee against trust assets in respect of\nliabilities incurred by the Old Trustee\nacting as trustee;\n5\n\nPart I—Preliminary\nANZ Executors & Trustee Company Act 1983\nNo. 9898 of 1983\ns. 2\n(d) the rights of the Old Trustee to\ncommission, remuneration, fees and\nreimbursement for disbursements\nwhether billed or unbilled in respect of\nits acting in the capacity of trustee;\n(e) the benefit and obligations under\ncontracts of employment with\nemployees of the Old Trustee who are\nemployed primarily in the trust\nbusiness of the Old Trustee including\nobligations with respect to holiday pay,\nlong service leave, sick leave and other\nbenefits applicable to those employees\nother than the liability to make any\npayments to any superannuation\nscheme that should have been but have\nnot been made before the\ncommencement of Part V;\n(f) the benefit and obligations under rental\nor leasing contracts in respect of the\ncomputers used by the Old Trustee in\nthe trust business of the Old Trustee;\n(g) all rights of the Old Trustee in respect\nof the use of the computer programmes\nused by the Old Trustee in the trust\nbusiness of the Old Trustee;\n(h) all the issued shares of The Trustees\nExecutors and Agency Company\n(Canberra) Limited;\n(i) all the issued shares of T.E.A.\nNominees Limited;\n(j) all the shares in the Executor Trustee\nand Agency Company of South\nAustralia Limited owned by the Old\nTrustee;\n6\n\nPart I—Preliminary\nANZ Executors & Trustee Company Act 1983\nNo. 9898 of 1983\ns. 2\n(k) the corporate and accounting records of\nthe Old Trustee to the extent to which\nthey relate to the trust business of the\nOld Trustee;\n(l) the liability to perform further\nadministration of any trust or other\nadministration undertaken by the Old\nTrustee;\n(m) all assets of trusts and other\nappointments of the Old Trustee in its\nbusiness of acting in the capacity of\ntrustee; and\n(n) all other assets and undertakings of the\nOld Trustee being part of or incidental\nto or used in its business of acting in\nthe capacity of trustee—\nbut does not include the excluded items;\nwill includes a codicil and any other testamentary\nwriting.\n__________________\n7\n\nPart II—Alterations to the Structure Capital and Name of Gariwang Pty. Ltd.\nANZ Executors & Trustee Company Act 1983\nNo. 9898 of 1983\ns. 3\nPART II—ALTERATIONS TO THE STRUCTURE CAPITAL\nAND NAME OF GARIWANG PTY. LTD.\n3 Alterations to the structure, capital and name of\nGariwang Pty. Ltd.\n(1) The company known as Gariwang Pty. Ltd. is\nhereby converted from a proprietary company to a\npublic company limited by shares.\n(2) The Memorandum of Association of Gariwang\nPty. Ltd. is hereby amended by—\n(a) altering the name of the company in clause 1\nto ANZ Executors & Trustee Company\nLimited;\n(b) altering the capital of the company to\n$2 500 000 divided into 2 500 000 shares of\n$1.00 each; and\n(c) deleting the restrictions contained in\nclause V.\n(3) On or before 15 June 1983—\n(a) the Bank shall subscribe for 2 499 998 shares\nin ANZ Executors & Trustee Company\nLimited; and\n(b) the two shares of $1.00 each issued by the\ncompany before the commencement of this\nsection shall be transferred to the Bank.\n(4) The shares referred to in subsection (3)(a) shall be\nissued and allotted on the basis that an amount of\n40 cents per share capital shall be paid in respect\nof each share and the balance of 60 cents per share\nshall not be called up except in the event of and\nfor the purpose of winding up of the company.\n__________________\n8\n\nPart III—Alteration of the Name of the Trustees Executors & Agency\nCompany Limited\nANZ Executors & Trustee Company Act 1983\nNo. 9898 of 1983\ns. 4\nPART III—ALTERATION OF THE NAME OF THE\nTRUSTEES EXECUTORS & AGENCY COMPANY LIMITED\n4 Alteration of the name of the Trustees Executors &\nAgency Company Limited\n(1) The name of the Trustees Executors & Agency\nCompany Limited is hereby changed to TEA\n(1983) Limited.\n(2) The change of name of the company pursuant to\nsubsection (1) does not operate—\n(a) to create a new legal entity;\n(b) to prejudice or affect the identity of the body\ncorporate constituted by the company or its\ncontinuity as a body corporate;\n(c) to affect the property or the rights or\nobligations of the company; or\n(d) to render defective any legal proceedings by\nor against the company—\nand any legal proceedings that could have been\ncontinued or commenced by or against the\ncompany by its former name may be continued or\ncommenced by or against it in its new name.\n_______________\n* * * * * Pt 4\n(Heading\nand s. 5)\nrepealed by\nNo. 10168\ns. 3(Sch.).\n__________________\n9\n\nPart V—Transfer of the Trust Business and Appointments of the Old Trustee\nto the New Trustee\nANZ Executors & Trustee Company Act 1983\nNo. 9898 of 1983\ns. 6\nPART V—TRANSFER OF THE TRUST BUSINESS AND\nAPPOINTMENTS OF THE OLD TRUSTEE TO THE NEW\nTRUSTEE\n6 Definition\nIn this Part—\nNew Trustee means ANZ Executors & Trustee\nCompany Limited.\n7 Transfer of the trust business and appointments of\nthe Old Trustee to the New Trustee\n(1) Upon the commencement of this Part, the trust\nbusiness of the Old Trustee as at that\ncommencement shall be transferred to and vest in\nthe New Trustee.\n(2) In each case where the Old Trustee acts in the\ncapacity of trustee the New Trustee is hereby\nappointed in its stead to act in the capacity of\ntrustee and the New Trustee—\n(a) shall be entitled and obliged to exercise and\ndischarge all rights powers capacities\nauthorities duties and obligations of the Old\nTrustee in respect of and arising from every\nsuch appointment; and\n(b) to the extent provided in this Act shall\ndischarge the liabilities and obligations of\nthe Old Trustee in respect of and arising\nfrom every such appointment.\n(3) The Old Trustee shall account to the New Trustee\nfor all assets and liabilities and obligations held or\nto which it is subject in its business of acting in\nthe capacity of trustee.\n(4) Any appointment or nomination of the Old\nTrustee as trustee executor or otherwise in the\ncapacity of trustee in any will or instrument\nwhether such appointment or nomination is in\n10\n\nPart V—Transfer of the Trust Business and Appointments of the Old Trustee\nto the New Trustee\nANZ Executors & Trustee Company Act 1983\nNo. 9898 of 1983\ns. 7\neffect on the commencement of this Part or takes\neffect after that commencement or has taken effect\npreviously but where some further act or thing is\nnecessary to perfect the appointment or\nundertaking of the office shall be deemed to be an\nappointment or nomination of the New Trustee.\n(5) The production of a copy of this Part printed by\nthe Government Printer shall on and after the\ncommencement of this Part be conclusive\nevidence in all courts and proceedings of the\ntransfer of the trust business of the Old Trustee\nand all property held by the Old Trustee on trust\nin the capacity of trustee to the New Trustee and\nof their vesting in the New Trustee and without\nprejudice to the generality of the foregoing any\nsuch copy of this Act shall in relation to all land\nand all marketable securities operate as a duly\nexecuted transfer by the Old Trustee to the New\nTrustee of such land or such securities.\n(6) If any portion of the undertaking or property held\nby the Old Trustee in the capacity of trustee\ncannot be or is not vested in the New Trustee by\nvirtue of this Act whether because transfers of that\nportion are governed otherwise than by the law of\nthe State of Victoria or otherwise notwithstanding\nthat such portion relates to the trust business of the\nOld Trustee in Victoria then the Old Trustee shall\ndo all such things necessary after the\ncommencement of this Part for the purpose of\nsecuring that such portion is effectively and\npromptly transferred to the New Trustee.\n(7) Where, on the application of the New Trustee, it\nappears to any court to be necessary or proper\nhaving regard to the provisions of this Act, the\nNew Trustee may be joined as a party to any legal\nproceedings in addition to or in lieu of the Old\nTrustee.\n11\n\nPart V—Transfer of the Trust Business and Appointments of the Old Trustee\nto the New Trustee\nANZ Executors & Trustee Company Act 1983\nNo. 9898 of 1983\ns. 8\n8 Evidence\n(1) Where an application is made by the New Trustee\nto vest any property in the New Trustee and the\napplication is accompanied by a certificate under\nsubsection (2) that the property has vested in the\nNew Trustee and the appropriate certificate of title\nthe Registrar of Titles shall without fee give effect\nin the Register to such vesting by registering the\nNew Trustee as proprietor of the property.\nS. 8(1)\namended by\nNo. 18/1989\ns. 13(Sch. 2\nitem 1(a)(b)).\n(2) A certificate under the seals of the New Trustee\nand the Old Trustee to the effect that the estate or\ninterest of persons therein specified in land so\nspecified is an estate or interest vested in the New\nTrustee by this Act shall for the purposes of—\n(a) any application by the New Trustee to be\nregistered under the Transfer of Land Act\n1958 as the proprietor of that estate or\ninterest pursuant to the vesting;\n(b) any application by the New Trustee or a\nsuccessor in title of the New Trustee to bring\nland under the Transfer of Land Act 1958;\n(c) any transfer conveyance reconveyance\nmortgage or other instrument or dealing\nwhatsoever in respect of any interest in any\nsuch land (whether or not under the\nTransfer of Land Act 1958); and\n(d) any creation of easement or other interest in\nrespect of any such land (whether or not\nunder the Transfer of Land Act 1958)—\nbe conclusive evidence of the matters certified.\n═══════════════\n12\n\nANZ Executors & Trustee Company Act 1983\nNo. 9898 of 1983\nEndnotes\nENDNOTES\n1. General Information\nThe ANZ Executors & Trustee Company Act 1983 was assented to on\n7 June 1983 and came into operation as follows:\nPart 1 (sections 1, 2), Part 2 (section 3) on 7 June 1983: s. 1(2); Part 3\n(section 4), Part 4 (section 5), Part 5 (sections 6–8) on 15 June 1983:\nGovernment Gazette 15 June 1983 p. 1520.\n13\n\nANZ Executors & Trustee Company Act 1983\nNo. 9898 of 1983\nEndnotes\n2. Table of Amendments\nThis Version incorporates amendments made to the ANZ Executors &\nTrustee Company Act 1983 by Acts and subordinate instruments.\n–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––\nTrustee Companies Act 1984, No. 10168/1984\nAssent Date: 20.11.84\nCommencement Date: 5.12.84: Government Gazette 5.12.84\np. 4329\nCurrent State: All of Act in operation\nTransfer of Land (Computer Register) Act 1989, No. 18/1989\nAssent Date: 16.5.89\nCommencement Date: 3.2.92: Government Gazette 18.12.91 p. 3488\nCurrent State: All of Act in operation\n–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––\n14\n\nANZ Executors & Trustee Company Act 1983\nNo. 9898 of 1983\nEndnotes\n3. Explanatory Details\nNo entries at date of publication.\n15","sortOrder":0}],"analysis":{"issue_detection":{"absurdities":[],"contradictions":[]},"flash_summary":{"complexity_score":6,"scope_assessment":{"changed":true,"description":"The Act's core purpose—convert Gariwang, vest the Old Trustee’s trust business in the New Trustee and substitute appointments—remains. Subsequent amendments, however, modified procedural and statutory detail: Part IV was repealed by the Trustee Companies Act 1984 (see Endnotes/Table of Amendments), and s.8(1) was amended by the Transfer of Land (Computer Register) Act 1989 to update registration practice. Those changes adjusted registration and related procedural scope without altering the primary transfer and vesting mechanics."},"complexity_factors":["Multiple defined categories and exclusions that limit what transfers (see definition of “trust business” and “excluded items” in s.2).","Corporate restructuring mechanics: conversion from proprietary to public company, name changes and a near-wholesale bank subscription with partly paid shares (s.3(1)–(4)).","Automatic vesting and substitution of trustee roles across existing and future instruments (s.7(1)–(4)), which affects many third-party rights and duties.","Statutory preservation of certain liabilities and claims against the Old Trustee (s.2 excluded items(c)–(e)), creating complex allocation of risk between old and new entities.","Property-registration and evidentiary shortcuts: printed Act as conclusive evidence and Registrar of Titles registration procedure with certificate requirements (s.7(5); s.8(1)–(2)).","Cross-jurisdictional transfer issues requiring the Old Trustee to take further steps where Victorian law does not govern vesting (s.7(6)).","Court-joinder power allowing New Trustee to be joined to proceedings in addition to or instead of Old Trustee (s.7(7)), affecting litigation strategy and standing.","Interplay with other legislation and later amendments (see Endnotes/Table of Amendments) that alter procedural details (e.g. registration practice)."],"plain_english_summary":"This Act converts Gariwang Pty. Ltd. into a public company renamed ANZ Executors & Trustee Company Limited, gives Australia and New Zealand Banking Group Limited almost all shares, and transfers the trust business, appointments, trust assets and records of The Trustees Executors & Agency Company Limited (the Old Trustee) to that New Trustee. It vests title to trust land and marketable securities in the New Trustee, substitutes the New Trustee for the Old Trustee in existing appointments, and preserves a list of excluded assets and liabilities."},"flash_summary_failed":{"failed":true,"reason":"Unauthenticated. Configure AI_GATEWAY_API_KEY or use a provider module. Learn more: https://ai-sdk.dev/unauthenticated-ai-gateway","source":"analysis-cron"},"kimi_summary":{"content_quality":"ok","complexity_score":4,"scope_assessment":{"changed":false,"description":"The legislation remains tightly focused on its original purpose: the specific corporate restructuring of TE&A and transfer of its trust business to ANZ. While Part IV was repealed (removing amendments to the Trustee Companies Act 1958), the core scope has not expanded beyond the original 1983 rescue transaction. The Act has not grown to regulate trustee companies generally or create ongoing regulatory frameworks—it remains a one-time statutory transfer mechanism."},"complexity_factors":["Extensive defined terms section (11 defined terms in section 2) with complex nested definitions, particularly 'the trust business of the Old Trustee' which contains 14 sub-paragraphs and a double-negative exclusion clause ('but does not include the excluded items')","Cross-references to external legislation including the Companies (Victoria) Code, Trustee Companies Act 1958, Transfer of Land Act 1958, Mental Health Act 1959, and Public Trustee Act 1958","Conditional commencement provisions with split operation dates (Parts I-II on Royal Assent, Parts III-V by proclamation)","Complex property law mechanisms including automatic vesting of land and marketable securities without individual transfers (section 7(5))","Statutory evidentiary shortcuts creating conclusive presumptions (section 7(5) and section 8(2))","Part IV has been repealed, leaving a structural gap in the numbering","Preamble contains 7 'WHEREAS' clauses setting out factual preconditions that are incorporated into the legislative intent"],"plain_english_summary":"This 1983 rescue law lets ANZ take over the failing Trustees Executors & Agency Company Ltd’s trust business by transferring its trustee duties to an ANZ-controlled successor, keeping trusts, estates and wills running without individual court actions. It protects beneficiaries, enables simple statutory transfers of land and assets, and separates the viable trust business from the old company’s liabilities, ensuring continuity of fiduciary services."}},"importantCases":[],"_links":{"self":"/api/acts/anz-executors-trustee-company-act-1983","history":"/api/acts/anz-executors-trustee-company-act-1983/history","analysis":"/api/acts/anz-executors-trustee-company-act-1983/analysis","conflicts":"/api/acts/anz-executors-trustee-company-act-1983/conflicts","importantCases":"/api/acts/anz-executors-trustee-company-act-1983/important-cases","documents":"/api/acts/anz-executors-trustee-company-act-1983/documents"}}