{"id":"companies-trustees-and-personal-representatives-act-1981","name":"Companies (Trustees and Personal Representatives) Act 1981","slug":"companies-trustees-and-personal-representatives-act-1981","collection":"act","jurisdiction":"nt","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":29935,"registerId":"nt-companies-trustees-and-personal-representatives-act-1981-current","compilationNumber":null,"startDate":"2026-04-01","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Companies (Trustees and Personal Representatives) Act 1981","content":"NORTHERN TERRITORY OF AUSTRALIA\nCOMPANIES (TRUSTEES AND PERSONAL REPRESENTATIVES)\nACT 1981\nAs in force at 7 November 2019\nTable of provisions\nPart 1 Preliminary\n1 Short title ......................................................................................... 1\n2 Commencement .............................................................................. 1\n3 Repeal ............................................................................................. 1\n5 Definitions ........................................................................................ 1\nPart 2 Trustee companies\n14 Trustee company may act as executor ............................................ 2\n15 Authorization to apply for letters of administration with will\nannexed ........................................................................................... 3\n16 Trustee company may obtain administration with will annexed ....... 3\n17 Trustee company may apply for administration of the estate of\nan intestate ...................................................................................... 3\n18 Trustee company may act as executor or administrator .................. 4\n19 Trustee company may act under power of attorney ........................ 4\n20 Court or person with power to appoint may appoint trustee\ncompany .......................................................................................... 4\n21 Executor, &c., may appoint trustee company to act ........................ 5\n22 Trustee company subject to same duties, &c., as a natural\nperson ............................................................................................. 6\n23 Powers conferred by this Act are in addition ................................... 6\n24 Dispensing with consents ................................................................ 6\n26 Investment of funds ......................................................................... 6\n28 Certificate of trustee company evidence of certain things ............... 7\n29 Administration bond or security not required ................................... 8\n34 Unclaimed moneys .......................................................................... 8\n35 Treasurer may pay to lawful claimant .............................................. 9\n49 Affidavits may be sworn by certain officers ..................................... 9\n50 Directors and chief executive officer personally liable ................... 10\n51 Trust moneys ................................................................................. 10\n52 Trustee company may be removed ............................................... 10\n53 Effect of transfer under Corporations Act 2001 ............................. 11\n54 Exemption from tax for compulsory transfer .................................. 12\n55 Certificates evidencing transfer ..................................................... 13\n56 Registration or record of transfer ................................................... 13\n\nCompanies (Trustees and Personal Representatives) Act 1981 ii\nPart 3 Miscellaneous\n57 Only certain companies to act as executor, &c.............................. 14\n58 Syndics .......................................................................................... 14\n59 Regulations.................................................................................... 15\nPart 4 Transitional matters for Companies\n(Trustees and Personal Representatives)\n(National Uniform Legislation)\nImplementation Act 2010\n60 Definitions ...................................................................................... 15\n61 Authorized company may continue to act ...................................... 15\nSchedule 1 South Australian laws\nENDNOTES\n\nNORTHERN TERRITORY OF AUSTRALIA\n____________________\nAs in force at 7 November 2019\n____________________\nCOMPANIES (TRUSTEES AND PERSONAL REPRESENTATIVES)\nACT 1981\nAn Act to enable certain companies to act as trustees and personal\nrepresentatives, and for other purposes\nPart 1 Preliminary\n1 Short title\nThis Act may be cited as the Companies (Trustees and Personal\nRepresentatives) Act 1981.\n2 Commencement\nThe several Parts and sections of this Act shall come into operation\non such dates as are respectively fixed by the Administrator by\nnotice in the Gazette.\n3 Repeal\nThe laws of the State of South Australia specified in Schedule 1\ncease to have effect in the Northern Territory as laws of the\nTerritory.\n5 Definitions\nIn this Act:\nadministrator includes a person to whom letters of administration\nare granted.\nchief executive officer, in relation to a trustee company, means\nthe person who is primarily and directly responsible to the directors\nfor the general and overall management of the company.\nCourt means the Supreme Court.\nestate means real and personal property of whatever nature or\nkind.\n\nPart 2 Trustee companies\nCompanies (Trustees and Personal Representatives) Act 1981 2\nletters of administration means:\n(a) letters of administration of the real and personal estate of a\ndeceased person with or without the will, if any, annexed and\nwhether granted for general, special or limited purposes;\n(b) exemplification of letters of administration; and\n(c) such other formal evidence of the right to administer the real\nand personal estate of a deceased person, purporting to be\nunder the seal of a court of competent jurisdiction, as, in the\nopinion of the Court, is sufficient to authorize that\nadministration of that estate under the law applicable in the\nplace where the court of competent jurisdiction has\njurisdiction.\nprobate has the same meaning as in the Administration and\nProbate Act 1969.\nstatutory manager means a guardian for an adult's financial\nmatters appointed under the Guardianship of Adults Act 2016.\ntrustee company means a licensed trustee company as defined in\nsection 601RAA of the Corporations Act 2001.\nwill includes a codicil to a will.\nPart 2 Trustee companies\n14 Trustee company may act as executor\n(1) Where a trustee company is appointed expressly or by implication\nas the executor in the last will of a testator, it may act as the\nexecutor and may apply to the Court for a grant of probate of the\nwill and the Court may grant probate accordingly.\n(2) Where a trustee company is appointed expressly or by implication\njointly with another person as an executor in the last will of a\ntestator, it may act as the executor and may apply to the Court for a\ngrant of probate of the will either with leave reserved for any person\nto come in and prove or jointly with any other executor, and the\nCourt may grant probate accordingly.\n\nPart 2 Trustee companies\nCompanies (Trustees and Personal Representatives) Act 1981 3\n15 Authorization to apply for letters of administration with will\nannexed\nIn any case in which a natural person may apply for and obtain\nletters of administration with the will annexed of the estate of a\ndeceased person, he may:\n(a) instead of himself applying, authorize a trustee company to\napply to the Court for letters of administration with the will\nannexed, which may be granted to the company upon its own\napplication; or\n(b) join with a trustee company in an application for letters of\nadministration with the will annexed, which may be granted to\nthe person and the company jointly.\n16 Trustee company may obtain administration with will annexed\n(1) A person who is appointed expressly or by implication as an\nexecutor in the last will of a testator and who is entitled to obtain\nprobate of the will without reserving leave to any other person to\napply for probate, may authorize a trustee company to apply to the\nCourt for letters of administration with the will annexed, which may\nbe granted to the trustee company upon its own application unless,\nin the will, the testator has expressed his desire that the office of\nexecutor is not to be delegated or that the company so applying is\nnot to act in the trusts of the will.\n(2) A person who is appointed expressly or by implication as an\nexecutor in the last will of a testator and who is entitled to obtain\nprobate of the will jointly with any other person, may authorize a\ntrustee company to apply to the Court for probate either alone with\nleave reserved for any person to come in and prove or jointly with\nany person entitled to apply for probate of the will, which may be\ngranted to the company upon its own application unless, in the will,\nthe testator has expressed his desire that the office of executor is\nnot to be delegated or that the company so applying is not to act in\nthe trusts of the will.\n17 Trustee company may apply for administration of the estate of\nan intestate\nA person entitled to obtain letters of administration of the estate of\nan intestate may authorize a trustee company to apply for letters of\nadministration of the estate, which may be granted to the company\nupon its own application.\n\nPart 2 Trustee companies\nCompanies (Trustees and Personal Representatives) Act 1981 4\n18 Trustee company may act as executor or administrator\n(1) Where a trustee company is granted probate of a will, it may\nexercise all the powers, perform and discharge all the duties and\nshall be liable to all the obligations of, an executor.\n(2) Where a trustee company is granted letters of administration with\nthe will annexed of an estate or letters of administration of an\nestate of an intestate, it may exercise all the powers, perform and\ndischarge all the duties and shall be liable to all the obligations of,\nan administrator.\n19 Trustee company may act under power of attorney\n(1) A trustee company may act under a power of attorney by which it is\nappointed attorney by a person (including a power of attorney to\napply for and obtain a grant of probate or letters of administration)\nas attorney for that person, and all powers conferred upon it by a\npower of attorney may be exercised by:\n(a) a director of the company or its chief executive officer\norsecretary; or\n(b) any other of its officers authorized in writing under the seal of\nthe company to exercise the powers of the company as an\nattorney.\n(2) This section does not authorize a person to confer a power upon a\ntrustee company which cannot be legally conferred upon a natural\nperson.\n20 Court or person with power to appoint may appoint trustee\ncompany\n(1) Subject to subsections (5) and (6), a court, judge or person who\nhas power to appoint:\n(a) a trustee;\n(b) a receiver;\n(c) a statutory manager; or\n(d) a liquidator or an official liquidator,\nmay appoint a trustee company, either alone or jointly with any\nperson to be a trustee, receiver, statutory manager or liquidator or\nofficial liquidator, as the case may be, and the company may act in\nthat capacity accordingly.\n\nPart 2 Trustee companies\nCompanies (Trustees and Personal Representatives) Act 1981 5\n(2) Subject to subsections (5) and (6), a trustee company may be\nappointed, or may continue to act, as sole trustee of a trust\nnotwithstanding any law in force in the Territory requiring the\nappointment of 2 or more trustees of that trust.\n(3) Subject to subsections (5) and (6), where a trustee is incapable of\nacting or has died, the person nominated for the purpose of\nappointing new trustees by the instrument creating the trust or, if\nthere is no person willing and able so to act, the continuing or\nsurviving trustee or the personal representative of the last-surviving\ntrustee may, notwithstanding any law in force in the Territory,\nappoint a trustee company willing to be so appointed, to be the sole\ntrustee of the trust.\n(4) Where a trustee company is appointed to an office or position\nreferred to in subsection (1), it may exercise, perform and\ndischarge all the powers and duties of, and shall be liable to all the\nobligations pertaining to, that office or position.\n(5) A trustee company shall not be appointed to an office or position\nreferred to in subsection (1) where the instrument creating the trust\nor power forbids its appointment to that office or position.\n(6) A trustee company shall not be appointed or be entitled to act as\nsole trustee, where the instrument creating the trust or power\nexpressly provides that there shall be another trustee in addition to\na trustee company or that a trustee company shall not be appointed\nor act as sole trustee.\n(7) Notwithstanding any law in force in the Territory, a trustee, or other\nperson having power to appoint a trustee may, without the consent\nof the Court, appoint a trustee company to be a trustee where he\nhas power to appoint a new trustee.\n21 Executor, &c., may appoint trustee company to act\n(1) An executor or administrator acting under a probate or letters of\nadministration, a trustee, a receiver appointed by the Court, a\nstatutory manager, liquidator or official liquidator may, with the\nconsent of the Court, appoint a trustee company to exercise,\nperform and discharge all the powers and duties of that executor,\nadministrator, trustee, receiver, statutory manager, liquidator or\nofficial liquidator, as the case may be.\n(2) The costs of an application under subsection (1) for the consent of\nthe Court and appearances in relation thereto are in the discretion\nof the Court and may be ordered to be paid out of the estate.\n\nPart 2 Trustee companies\nCompanies (Trustees and Personal Representatives) Act 1981 6\n(3) Where a trustee company is appointed under subsection (1), the\nperson in whose place the company is appointed is released from\nall liability in respect of acts done or omitted to be done by the\ncompany acting under the appointment.\n22 Trustee company subject to same duties, &c., as a natural\nperson\nWhere a trustee company is appointed or acts as an executor,\nadministrator, attorney, trustee, receiver, statutory manager,\nliquidator or official liquidator, in addition to any liability imposed by\nthis Act, it shall be subject to all the duties and obligations to which\na natural person acting in that capacity would be subject.\n23 Powers conferred by this Act are in addition\nThe powers conferred on a trustee company by this Act are in\naddition to and not in derogation of the powers conferred on the\ncompany or on an executor, administrator, attorney, trustee,\nreceiver, statutory manager, liquidator or official liquidator by any\nother law in force in the Territory.\n24 Dispensing with consents\nWhere the consent of a person is required before an administrator\nor trustee is appointed and that person:\n(a) cannot be located;\n(b) refuses to consent;\n(c) has not attained the age of 18 years;\n(d) is not of full mental capacity; or\n(e) is under any other disability,\nthe appointment of a trustee company as administrator or trustee\nmay be made without that consent, if the Court consents to the\nappointment.\n26 Investment of funds\n(1) Where a trustee company holds moneys belonging to more than\none estate, trust, property or person upon trusts which require or\npermit investment of those moneys, it may invest those moneys as\none fund, and distribute the income arising therefrom\nproportionately among the several estates, trusts, properties and\npersons to which the moneys so invested belong.\n\nPart 2 Trustee companies\nCompanies (Trustees and Personal Representatives) Act 1981 7\n(2) A profit or loss arising from an investment made in pursuance of\nsubsection (1) shall be received or borne proportionately among the\nseveral estates, trusts, properties and persons to which the moneys\nso invested belong.\n28 Certificate of trustee company evidence of certain things\n(1) Where a trustee company is executor or administrator of, or is by\nlaw authorized to administer the estate of, a deceased person, a\ncertificate by a director of the company or its chief executive officer\nor secretary certifying any of the following:\n(a) the name of the deceased;\n(b) the residential address of the deceased at the time of his\ndeath;\n(c) the occupation of the deceased immediately before his death;\n(d) the nature or form of the authority by which the company is\nadministering the estate;\n(e) the date of granting of the authority referred to in\nparagraph (d);\n(f) the reference number of the authority referred to in\nparagraph (d);\n(g) the manner in which the company became authorized to\nadminister the estate;\n(h) the time at which the company became authorized to\nadminister the estate,\naccompanied by a photographic copy of the grant of probate,\nletters of administration or other order or document of appointment\nmay, notwithstanding any law to the contrary, and without other\nproof, be accepted by all courts, officers and persons, whether or\nnot acting under a law, as sufficient evidence of the respective\nmatters so certified or stated.\n(2) Where a trustee company is acting as executor, administrator,\nattorney, trustee, receiver, statutory manager, liquidator or official\nliquidator, a certificate under its common seal certifying:\n(a) the capacity in which it is authorized to act; and\n(b) the manner in which it became authorized to act in that\ncapacity; and\n\nPart 2 Trustee companies\nCompanies (Trustees and Personal Representatives) Act 1981 8\n(c) the time at which it became authorized to act in that capacity,\naccompanied by a photographic copy of the trust instrument, order\nor document of appointment may, notwithstanding any law to the\ncontrary, and without other proof, be accepted by all courts, officers\nand persons, whether or not acting under a law, as sufficient\nevidence of the respective matters so certified or stated.\n(3) A certificate under subsection (1) or (2) accompanied by the\nrelevant photographic copy shall be sufficient authority for\nregistering the trustee company as proprietor of an estate or\ninterest in land or of any shares, stock or property in any body\ncorporate, body or association and, in respect of land, may be\nproduced and shall be accepted as though it were probate or letters\nof administration, as the case requires.\n29 Administration bond or security not required\nNo order can be made requiring a trustee company:\n(a) to enter into an administration bond under the Administration\nand Probate Act 1969; or\n(b) to give any other security for the administration of an estate.\n34 Unclaimed moneys\n(1) A trustee company shall pay to the Treasurer all moneys of an\nestate which the company is administering as executor,\nadministrator, attorney, trustee, receiver, statutory manager,\nliquidator or official liquidator by virtue of the powers conferred by\nthis Act, and which remain unclaimed by the person entitled to the\nmoneys for a period of 3 years after they have become due and\npayable to that person, unless an order is made by a court of\ncompetent jurisdiction restraining the payment by the company to\nthe Treasurer.\n(2) The receipt of the Treasurer for moneys paid to him pursuant to\nsubsection (1) shall be a good and sufficient discharge for the\ntrustee company which shall have no further liability for those\nmoneys.\n(3) A trustee company shall, within 14 days after 30 June in each year,\ndeliver to the Treasurer a statement of all unclaimed moneys\nreferred to in subsection (1) which have been held by it during the\n12 months immediately preceding that date.\n\nPart 2 Trustee companies\nCompanies (Trustees and Personal Representatives) Act 1981 9\n(4) A statement referred to in subsection (3) shall show the several\nestates in respect of which the moneys have been received and the\ndates and amounts of the payments made under subsection (1)\nand, if those moneys or any part of them have not been paid to the\nTreasurer, shall indicate the reasons for their non-payment.\n(5) A trustee company which fails to comply with a provision of this\nsection is guilty of an offence.\nMaximum penalty: 8 penalty units for each day during which\nthe failure to comply continues.\n35 Treasurer may pay to lawful claimant\nWhere the Treasurer is satisfied that a person is lawfully entitled to\nany moneys paid to the Treasurer under section 34, he may pay an\namount equal to those moneys to that person.\n49 Affidavits may be sworn by certain officers\n(1) Where a trustee company is empowered under this Act to apply to\nthe Court for probate of a will or letters of administration of an\nestate:\n(a) a director of the company or its chief executive officer or\nsecretary; or\n(b) any other officer of the company authorized in writing under\nthe seal of the company so to do,\nmay make an affidavit for the purposes of the application and the\nCourt may receive and act upon the application accordingly.\n(2) The Court may accept as evidence of the authorization under\nsubsection (1) of an officer, a statement of that fact in an affidavit.\n(3) A person authorized by or under this section or section 19 to make\nan affidavit in support of an application for probate of a will or\nletters of administration may sign such other documents which the\nCourt requires in support of or resulting from that application.\n(4) Where the Court requires the attendance of a trustee company in\nits capacity as an executor or administrator or as an applicant for a\ngrant of probate or letters of administration, it may require a person\nauthorized by or under this section or section 19 to attend, and\nattendance by that person or, unless the Court otherwise orders, by\nsome other person authorized by or under this section or\nsection 19, shall be deemed to be attendance of the company.\n\nPart 2 Trustee companies\nCompanies (Trustees and Personal Representatives) Act 1981 10\n50 Directors and chief executive officer personally liable\n(1) Subject to subsection (2), where a trustee company obtains\nprobate or letters of administration, or is appointed and acts as an\nexecutor or administers the estate of, a deceased person, or is\nappointed and acts as an attorney, trustee, receiver, statutory\nmanager, liquidator or official liquidator, its directors and chief\nexecutive officer shall be individually and collectively responsible to\nthe Court and shall be personally liable by process of attachment,\ncommitment for contempt or by other process, to all courts having\njurisdiction, for the proper discharge of their duties and for\nobedience to the rules, orders and decrees of those courts, in the\nsame manner and to the same extent as if the directors and chief\nexecutive officer:\n(a) had personally obtained probate or letters of administration\nand had acted as executors and administrators; or\n(b) had personally been appointed as attorney, trustee, receiver,\nstatutory manager, liquidator or official liquidator, as the case\nmay be, and had acted in that capacity.\n(2) Where a natural person acting in any of the capacities referred to\nin subsection (1) would be liable for attachment, commitment or\nother process, the directors and chief executive officer of a trustee\ncompany shall, where the company is acting in any of those\ncapacities, be liable, each for his own individual act and not\notherwise, to attachment, commitment or other process.\n51 Trust moneys\n(1) All trust moneys received by a trustee company in respect of\nestates shall be placed in a separate trust account and shall not be\nmixed with the general funds of the company.\n(2) An account of moneys paid or received, and investments made and\nmoney advanced, in respect of a particular estate by a trustee\ncompany, shall be kept by the company separate from all other\nestate accounts.\n52 Trustee company may be removed\n(1) Where a trustee company is appointed or acts as executor,\nadministrator, attorney, trustee, receiver, statutory manager,\nliquidator or official liquidator it shall, in addition to the liabilities and\nrestrictions imposed by this Act, be subject in all respects to the\nsame control, and is liable to be removed in the same manner, as a\nnatural person who acts in the same capacity.\n\nPart 2 Trustee companies\nCompanies (Trustees and Personal Representatives) Act 1981 11\n(2) A person claiming relief against a trustee company for an act done\nor assumed to have been done, or in respect of an act omitted to\nbe done, by the company or a director or officer of the company\nunder a power conferred by this Act, may institute proceedings in\nthe Court against the company, the director or the officers, as the\ncase requires.\n(3) In a proceeding under subsection (2), the Court may make such\norder, including as to costs, as it thinks fit.\n53 Effect of transfer under Corporations Act 2001\n(1) This section applies if:\n(a) ASIC:\n(ii) makes a determination under section 601WBA of the\nCorporations Act 2001 that there is to be a transfer of\nestate assets and liabilities from a trustee company (the\ntransferring company) to another trustee company (the\nreceiving company); and\n(iii) issues a certificate under section 601WBG of that Act (a\ncertificate of transfer) that the transfer is to take effect;\nand\n(b) the transferring company or receiving company, or both, are\nregistered in the Territory.\n(2) When the certificate of transfer comes into force, the receiving\ncompany becomes the successor in law in relation to the estate\nassets and liabilities of the transferring company, to the extent of\nthe transfer.\n(3) Without limiting subsection (2), when the certificate of transfer\ncomes into force:\n(a) the following become assets and liabilities of the receiving\ncompany (in the same capacity as they were assets and\nliabilities of the transferring company) without any transfer,\nconveyance or assignment:\n(i) if the transfer is a total transfer – all the estate assets\nand liabilities of the transferring company;\n(ii) if the transfer is a partial transfer – all the estate assets\nand liabilities included in the list mentioned in\nsection 601WBG(2)(c) of the Corporations Act 2001;\nand\n\nPart 2 Trustee companies\nCompanies (Trustees and Personal Representatives) Act 1981 12\n(b) the duties, obligations, immunities, rights and privileges\napplying to the transferring company apply to the receiving\ncompany to the extent of the transfer; and\n(c) if a certificate of transfer includes provisions of a kind\nmentioned in section 601WBG(3) of the Corporations\nAct 2001:\n(i) if the provisions specify that particular things are to\nhappen or are taken to be the case – those things are\ntaken to happen, or to be the case, in accordance with\nthose provisions; and\n(ii) if the provisions specify a mechanism for determining\nthings that are to happen or are taken to be the case –\nthings determined in accordance with the mechanism\nare taken to happen, or to be the case, as determined in\naccordance with that mechanism; and\n(d) any appointment or nomination of the transferring company to\na particular capacity (for example, as trustee, executor or\nadministrator) in relation to transferred estate assets and\nliabilities is taken to be an appointment or nomination of the\nreceiving company to that capacity in relation to those assets\nand liabilities.\n(4) Terms used in this section and also in Part 5D.6 of the\nCorporations Act 2001 have the same meanings in this section as\nthey have in that Part.\n54 Exemption from tax for compulsory transfer\n(1) Territory tax is not chargeable in relation to anything:\n(a) that occurs by operation of a compulsory transfer provision; or\n(b) done:\n(i) under a compulsory transfer provision; or\n(ii) to give effect to a compulsory transfer provision; or\n(iii) for a purpose connected with, or arising out of, giving\neffect to a compulsory transfer provision.\n\nPart 2 Trustee companies\nCompanies (Trustees and Personal Representatives) Act 1981 13\n(2) In this section:\ncompulsory transfer provision means either of the following\napply following the making of a compulsory transfer determination\nunder section 601WBA(1)(a) of the Corporations Act 2001:\n(a) section 53;\n(b) Part 5D.6, Division 2 of the Corporations Act 2001.\nTerritory tax means:\n(a) stamp duty under the Stamp Duty Act 1978; or\n(b) any application or registration fee or other tax, duty, fee or\ncharge imposed by any law of the Territory.\n55 Certificates evidencing transfer\n(1) A person authorised under subsection (3) may, in writing signed by\nthe person, certify that a specific asset or liability has become an\nasset or liability of the receiving company under section 53.\n(2) For all purposes and in all proceedings a certificate issued under\nsubsection (1) is evidence of the matters certified.\n(3) ASIC may, in writing, authorise a person who is a member of ASIC\nor a member of its staff to issue certificates under this section.\n56 Registration or record of transfer\n(1) A registering authority must, on application, register or record in an\nappropriate manner:\n(a) anything:\n(i) that occurs by operation of a transfer provision; or\n(ii) done:\n(A) under a transfer provision; or\n(B) to give effect to a transfer provision; or\n(C) for a purpose connected with, or arising out of,\ngiving effect to a transfer provision; or\n(b) a document relating to something mentioned in paragraph (a).\n\nPart 3 Miscellaneous\nCompanies (Trustees and Personal Representatives) Act 1981 14\n(2) The application under subsection (1) must be accompanied by a\ncertificate issued under section 55(1) in relation to the assets or\nliabilities to which the application relates.\n(3) In this section:\nregistering authority means the Registrar-General and any other\nperson or body required under a law of the Territory to register or\nrecord transactions affecting assets or liabilities, or documents\nrelating to such transactions.\ntransfer provision means:\n(a) section 53; or\n(b) Part 5D.6, Division 2 of the Corporations Act 2001.\nPart 3 Miscellaneous\n57 Only certain companies to act as executor, &c.\nA body corporate shall not obtain a grant of probate or act as an\nexecutor of the will, or trustee of the estate, of a deceased person\nin the Territory, either alone or jointly with another person, unless it\nis:\n(a) a trustee company; or\n(c) a body corporate that is authorized by a law in force in the\nTerritory to obtain a grant of probate and to so act.\n58 Syndics\n(1) Subject to this Act, a trustee company may be appointed a syndic\nto apply for a grant of letters of administration with the will annexed\non behalf of an executor which is a body corporate.\n(2) Nothing in this Act shall prevent the appointment of:\n(a) a natural person;\n(b) a trustee company; or\n(c) a body corporate that is authorized under a law in force in the\nTerritory to so act,\nto be a syndic to apply for a grant of letters of administration with\nthe will annexed on behalf of an executor which is a body\ncorporate.\n\nPart 4 Transitional matters for Companies (Trustees and Personal Representatives)\n(National Uniform Legislation) Implementation Act 2010\nCompanies (Trustees and Personal Representatives) Act 1981 15\n59 Regulations\nThe Administrator may make regulations under this Act.\nPart 4 Transitional matters for Companies (Trustees\nand Personal Representatives) (National\nUniform Legislation) Implementation Act 2010\n60 Definitions\nIn this Part:\n2010 Act means the Companies (Trustees and Personal\nRepresentatives) (National Uniform Legislation) Implementation\nAct 2010.\ncommencement day means the day on which the 2010 Act\ncommences.\nold Act means this Act as in force immediately before the 2010 Act\ncommenced.\n61 Authorized company may continue to act\n(1) This section applies if, immediately before the commencement day,\na company:\n(a) was an authorized company as defined in the old Act; and\n(b) was acting as an executor of the will, or trustee of the estate,\nof a deceased person.\n(2) Despite the amendment of the old Act by the 2010 Act:\n(a) the company may continue to act as executor or trustee until\nthe administration of the estate of that deceased person is\ncompleted; and\n(b) the old Act continues to apply to the company acting in that\ncapacity.\n\nSchedule 1 South Australian laws\nCompanies (Trustees and Personal Representatives) Act 1981 16\nSchedule 1 South Australian laws\nsection 3\nYear of State Act Title of State Act\n1885 Executors Company's Act, 1885\n1900 Executors Company's Amendment Act, 1900\n1910 Elder's Executor Company's Act, 1910\n1910 Bagot's Executor Company Act, 1910\n\nENDNOTES\nCompanies (Trustees and Personal Representatives) Act 1981 17\nENDNOTES\n1 KEY Key to abbreviations\namd = amended od = order\napp = appendix om = omitted\nbl = by-law pt = Part\nch = Chapter r = regulation/rule\ncl = clause rem = remainder\ndiv = Division renum = renumbered\nexp = expires/expired rep = repealed\nf = forms s = section\nGaz = Gazette sch = Schedule\nhdg = heading sdiv = Subdivision\nins = inserted SL = Subordinate Legislation\nlt = long title sub = substituted\nnc = not commenced\n2 LIST OF LEGISLATION\nCompanies (Trustees and Personal Representatives) Act 1981 (Act No. 37, 1981)\nAssent date 8 April 1981\nCommenced 28 September 1981 (Gaz S19, 28 September 1981)\nCriminal Law (Regulatory Offences) Act 1983 (Act No. 68, 1983)\nAssent date 28 November 1981\nCommenced 1 January 1984 (s 2, s 2 Criminal Code Act 1983 (Act No. 47,\n1983), Gaz G46, 18 November 1983, p 11 and Gaz G8,\n26 February 1986, p 5)\nCompanies (Trustees and Personal Representatives) Amendment Act 1984 (Act No. 5,\n1984)\nAssent date 3 April 1984\nCommenced 9 May 1984 (Gaz G18, 9 May 1984, p 5)\nCompanies and Securities (Consequential Amendments) Act 1986 (Act No. 18, 1986)\nAssent date 30 June 1986\nCommenced 1 July 1986 (s 2)\nCompanies (Trustees and Personal Representatives) Amendment Act 1987 (Act No. 8,\n1987)\nAssent date 27 May 1987\nCommenced 27 May 1987\nStatute Law Revision Act 1989 (Act No. 60, 1989)\nAssent date 2 October 1989\nCommenced 2 October 1989\n\nENDNOTES\nCompanies (Trustees and Personal Representatives) Act 1981 18\nCorporations (Consequential Amendments) Act 1990 (Act No. 59, 1990)\nAssent date 14 December 1990\nCommenced 1 January 1991 (s 2, s 2 Corporations (NT) Act 1990 (Act\nNo. 56, 1990) and Gaz S76, 21 December 1990)\nReal Property (Consequential Amendments) Act 1991 (Act No. 33, 1991)\nAssent date 25 June 1991\nCommenced 1 October 1991 (Gaz S49, 1 October 1991)\nTrustee (Consequential Amendments) Act 1996 (Act No. 8, 1996)\nAssent date 20 March 1996\nCommenced 20 March 1996 (s 2, s 2 Trustee Amendment Act (No. 2) 1995\n(Act No. 60, 1995) and Gaz G7, 14 February 1996, p 2)\nCompanies (Trustees and Personal Representatives) Amendment Act 1997 (Act No. 18,\n1997)\nAssent date 7 May 1997\nCommenced 7 May 1997\nMental Health and Related Services (Consequential Amendments) Act 1999 (Act No. 11,\n1999)\nAssent date 25 March 1999\nCommenced 1 February 2000 (s 2, s 2 Mental Health and Related Services\nAct 1998 (Act No. 63, 1998) and Gaz G3, 26 January 2000,\np 2)\nStatute Law Revision Act (No. 2) 1999 (Act No. 48, 1999)\nAssent date 10 November 1999\nCommenced 10 November 1999\nLand Title (Consequential Amendments) Act 2000 (Act No. 45, 2000)\nAssent date 12 September 2000\nCommenced 1 December 2000 (s 2, s 2 Land Title Act 2000 (Act No. 2,\n2000) and Gaz G38, 27 September 2000, p 2)\nCompanies (Trustees and Personal Representatives) Amendment Act 2001 (Act No. 11,\n2001)\nAssent date 28 June 2001\nCommenced 28 June 2001\nCorporations Reform (Consequential Amendments NT) Act 2001 (Act No. 17, 2001)\nAssent date 29 June 2001\nCommenced 15 July 2001 (s 2, s 2 Corporations Act 2001 (Cth Act No. 50,\n2001) and Cth Gaz S285, 13 July 2001)\nStatute Law Revision Act (No. 2) 2002 (Act No. 59, 2002)\nAssent date 7 November 2002\nCommenced 7 November 2002\nLegal Profession (Consequential Amendments) Act 2007 (Act No. 7, 2007)\nAssent date 17May 2007\nCommenced s 10: 1 July 2007 (Gaz G26, 27 June 2007, p 3);\nrem: 17 May 2007 (s 2)\n\nENDNOTES\nCompanies (Trustees and Personal Representatives) Act 1981 19\nCompanies (Trustees and Personal Representatives) (National Uniform Legislation)\nImplementation Act 2010 (Act No. 16, 2010)\nAssent date 20 May 2010\nCommenced 23 June 2010 (Gaz G25, 23 June 2010, p 2)\nPenalties Amendment (Justice and Treasury Legislation) Act 2010 (Act No. 38, 2010)\nAssent date 18 November 2010\nCommenced 1 February 2011 (Gaz S6, 1 February 2011)\nJustice and Other Legislation Amendment Act 2012 (Act No. 2, 2012)\nAssent date 21 March 2012\nCommenced pts 2, 3 and 5 to 7: 1 August 2012; rem: 1 September 2012\n(Gaz G29, 18 July 2012, p 7)\nAdvance Personal Planning Amendment Act 2016 (Act No. 13, 2016)\nAssent date 7 June 2016\nCommenced 28 July 2016 (s 2, s 2 Guardianship of Adults Act 2016 (Act\nNo. 15, 2016) and Gaz S74, 27 July 2016, p 1)\nStatute Law Revision and Repeals Act 2019 (Act No. 33, 2019)\nAssent date 6 November 2019\nCommenced pts 2 and 3: nc; rem: 7 November 2019 (s 2)\n3 GENERAL AMENDMENTS\nGeneral amendments of a formal nature (which are not referred to in the table\nof amendments to this reprint) are made by the Interpretation Legislation\nAmendment Act 2018 (Act No. 22, 2018) to: ss 1, 5, 29 and 54.\n4 LIST OF AMENDMENTS\npt 1 hdg amd No. 16, 2010, s 17\ns 4 rep No. 16, 2010, s 4\ns 5 amd No. 18, 1986, s 3; No. 59, 1990, s 4; No. 11, 1999, s 4; No. 17, 2001,\ns 5; No. 16, 2010, s 5; No. 13, 2016, s 35\npt 2 hdg amd No. 16, 2010, s 17\ns 6 rep No. 16, 2010, s 6\ns 7 amd No. 18, 1986, s 3; No. 59, 1990, s 4; No. 48, 1999, s 3; No. 17, 2001, s 5\nrep No. 16, 2010, s 6\ns 8 amd No. 18, 1986, s 3; No. 8, 1987, s 3; No. 59, 1990, s 4; No. 17, 2001, s 5\nrep No. 16, 2010, s 6\nss 9 – 12 rep No. 16, 2010, s 6\ns 13 amd No. 5, 1984, s 4; No. 8, 1987, s 4; No. 59, 1990, s 4; No. 59, 2002, s 2\nrep No. 16, 2010, s 6\ns 19 amd No. 16, 2010, s 17\ns 25 amd No. 18, 1986, s 3; No. 59, 1990, s 4; No. 8, 1996, s 3; No. 17, 2001, s 5\nrep No. 16, 2010, s 6\ns 27 rep No. 16, 2010, s 6\ns 27A ins No. 11, 2001, s 2\nrep No. 16, 2010, s 6\ns 28 amd No. 16, 2010, s 17\ns 29 sub No. 16, 2010, s 7\ns 30 amd No. 18, 1986, s 3; No. 59, 1990, s 4; No. 17, 2001, s 5\nrep No. 16, 2010, s 8\nss 31 – 33 rep No. 16, 2010, s 8\n\nENDNOTES\nCompanies (Trustees and Personal Representatives) Act 1981 20\ns 34 amd No. 38, 2010, s 3\ns 36 amd No. 18, 1997, s 2\nsub No. 17, 2001, s 5\namd No. 59. 2002, s 2\nrep No. 16, 2010, s 8\ns 37 amd No. 68, 1983, s 107\nrep No. 17, 2001, s 5\ns 38 amd No. 7, 2007, s 4\nrep No. 16, 2010, s 8\ns 39 rep No. 16, 2010, s 8\npt IIA hdg ins No. 5, 1984, s 5\nrep No. 16, 2010, s 9\ns 39A ins No. 5, 1984, s 5\namd No. 17, 2001, s 5\nrep No. 16, 2010, s 9\ns 39B ins No. 5, 1984, s 5\nrep No. 16, 2010, s 9\ns 39C ins No. 5, 1984, s 5\namd No. 60, 1989, s 6; No. 33, 1991, s 7; No. 45, 2000, s 11\nrep No. 16, 2010, s 9\npt III hdg rep No. 16, 2010, s 9\ns 40 rep No. 16, 2010, s 9\ns 41 amd No. 18, 1986, s 3; No. 59, 1990, s 4, No. 48, 1999, s 3; No. 17, 2001, s 5\nrep No. 16, 2010, s 9\nss 42 – 47 rep No. 16, 2010, s 9\npt IV hdg rep No. 16, 2010, s 10\ns 48 rep No. 16, 2010, s 11\nss 49 – 52 amd No. 16, 2010, s 17\ns 53 sub No. 16, 2010, s 12\namd No. 2, 2012, s 6\ns 54 sub No. 16, 2010, s 12\namd No. 2, 2012, s 7\nss 55 – 56 rep No. 16, 2010, s 12\nins No. 2, 2012, s 8\npt V hdg amd No. 16, 2010, s 17\ns 57 amd No. 16, 2010, s 13\ns 59 sub No. 16, 2010, s 14\npt 4 hdg ins No. 16, 2010, s 15\namd No. 33, 2019, s 49\ns 60 ins No. 16, 2010, s 15\namd No. 33, 2019, s 49\ns 61 ins No. 16, 2010, s 15\ns 62 ins No. 16, 2010, s 15\nexp No. 16, 2010, s 62(3)\nsch 2 rep No. 16, 2010, s 16","sortOrder":0}],"analysis":{"issue_detection":{"absurdities":[],"contradictions":[]},"kimi_summary":{"content_quality":"ok","complexity_score":4,"scope_assessment":{"changed":true,"description":"The original 1981 Act was a comprehensive licensing and regulatory scheme for trustee companies operating in the NT. The 2010 amendments fundamentally transformed it by removing all licensing, capital requirements, and detailed operational rules — transferring these to federal regulation under the Corporations Act. The Act is now essentially a 'conduit' law enabling federally-licensed trustee companies to operate in the NT with specific local powers (probate, administration, etc.), plus transitional protections for estates being administered during the 2010 changeover. What began as a standalone regulatory regime became a much slimmer enabling statute dependent on federal law."},"complexity_factors":["Moderate cross-referencing to federal Corporations Act 2001 (specifically Part 5D.6 and section 601RAA)","Multiple conditional exceptions in sections 20 and 21 regarding when trustee companies can/cannot be appointed","Technical transitional provisions (Part 4) dealing with the 2010 legislative overhaul","Specific evidentiary rules in section 28 creating statutory presumptions about certificates","Interaction between Territory law and federal insolvency/transfer mechanisms","Relatively short length (16 pages) but dense with defined terms and capacity-specific rules"],"plain_english_summary":"This law lets federally licensed \"trustee companies\" act in roles traditionally held by individuals—executors, administrators for intestate estates, trustees (including sole trustees), attorneys under powers of attorney, and court-appointed receivers or liquidators. It affects will-makers, beneficiaries, trustee companies, and the Supreme Court, requiring companies to meet the same duties as individuals, keep trust funds separate, expose directors/CEOs to personal liability for mismanagement, and remit unclaimed funds after three years. It provides a professional, regulated alternative to individual estate managers."},"flash_summary":{"complexity_score":7,"scope_assessment":{"changed":true,"description":"The Act’s core purpose — to permit certain companies to act as trustees and personal representatives — remains unchanged. However, subsequent amendments and additions materially expanded its operational scope beyond the original narrow enabling function. Notable expansions: (1) integration with Commonwealth Corporations Act compulsory/assisted transfer mechanics (ss 53–56), which adds corporate restructuring and compulsory transfer machinery that can change legal incumbency of estate assets across companies; (2) an express Territory tax/fee exemption for transfers carried out under those compulsory transfer provisions (s 54); (3) enlarged administrative and evidential procedures (s 28 certificates, s 56 registration duties) and reporting obligations for unclaimed moneys with penalties (s 34); and (4) national uniform and transitional measures (Part 4) to preserve continuity for pre‑existing authorised companies. Those additions extend the Act from a permissioning statute into a statutory framework that manages corporate succession of trustee business, evidentiary shortcuts, tax treatment for transfers and administrative reporting — a broader set of regulatory and administrative functions than the Act’s original, narrower enabling intent."},"complexity_factors":["9 defined terms in the interpretation section (s 5) with multi‑paragraph definitions (e.g. 'letters of administration')","Multiple cross‑references to external statutes: Corporations Act 2001 (Part 5D.6, s 601RAA, s 601WBA, s 601WBG), Administration and Probate Act 1969, Guardianship of Adults Act 2016 and Territory stamp/fee laws (s 54)","Nested conditional appointment rules with exceptions and instrument‑prevails clauses (notably s 20 with 7 subsections and s 16(1)–(2) exceptions)","Transitional and national‑uniform provisions (Part 4: ss 60–61) that preserve prior authorizations and require continuity rules","Integration of Commonwealth compulsory transfer machinery (ss 53–56) creating multi‑step processes (ASIC certificate triggers legal succession, then registering authority must record transfers)","Evidentiary concessions (s 28) that replace traditional probate originals with company certificates plus photographic copies — specific form and acceptance rules","Personal liability rules (s 50) with differing scopes in subsections (1) and (2) creating conditional exposure for officers","Reporting and offence regime for unclaimed moneys (s 34) including continuous‑day penalty exposure","Multiple procedural pathways for appointment and removal (court appointment, appointing person, executor/administrator delegations, syndic arrangements in s 58)"],"plain_english_summary":"**What this Act does (mechanically)\n\n- Allows licensed trustee companies (as defined under the Corporations Act 2001) to act in roles normally reserved for natural persons: executor or administrator of estates, trustee, receiver, statutory manager, liquidator or official liquidator (see ss 14, 16–18, 20, 22).  \n- Gives trustee companies powers to apply for and hold probate and letters of administration, to act under powers of attorney, and to be appointed by courts or appointing persons in place of natural trustees (see ss 14–21).  \n- Confers evidentiary and administrative conveniences: certificates signed under company seal or by senior officers may be accepted instead of producing probate or other original instruments (s 28).  \n- Removes some procedural burdens: trustee companies are not required to give an administration bond or other security under the Territory’s Administration and Probate Act (s 29).  \n- Requires separation of trust funds and accounts and imposes record‑keeping duties (s 51).  \n- Imposes a duty to pay unclaimed estate moneys to the Territory Treasurer after 3 years and an annual reporting obligation (s 34), and gives the Treasurer power to re‑pay lawful claimants (s 35).  \n- Subjects trustee companies and their senior officers to the same duties and court control as natural persons acting in those capacities; directors and the company’s chief executive officer can be personally liable for the proper discharge of duties (s 22, s 50).  \n- Enables pooling of money belonging to multiple estates for investment and proportionate allocation of gains or losses (s 26).  \n- Integrates with Commonwealth Corporations Act processes for compulsory transfers of estate assets and liabilities between trustee companies (Part 5D.6 of the Corporations Act): when ASIC issues a transfer certificate, the receiving trustee company becomes successor in relation to transferred estate assets and liabilities (s 53).  The Act also exempts such transfers from Territory taxes and fees (s 54), provides for certificates to evidence transfers (s 55) and requires registering authorities to record the transfer on application (s 56).  \n- Limits corporate capacity to act as executor or trustee to licensed trustee companies or bodies authorised by Territory law (s 57).  \n\nWho this affects\n\n- Licensed trustee companies (a specialist corporate licence under the Corporations Act) and their directors and senior officers (defined as 'chief executive officer' in s 5).  \n- Courts and registries dealing with probate, land and security transfers and corporate registrations (ss 28, 53, 56).  \n- Estate beneficiaries and potential claimants of unclaimed estate moneys (ss 34–35).  \n- Persons who would otherwise be appointed trustees, executors, receivers or liquidators (the Act affects when they can delegate appointment to a trustee company — see ss 20–21).  \n\nWhy it matters (claimed purpose and practical tests)\n\n- Officially the Act exists \"to enable certain companies to act as trustees and personal representatives\". Mechanically, it removes procedural obstacles for licensed trustee companies to operate in estate and trust roles and aligns Territory practice with national corporate trustee regulation (see Long Title; ss 14–22; ss 53–56).  \n\nTesting that claimed purpose against costs, incentives and trade‑offs:\n\n- Who pays: beneficiaries and estates ultimately bear trustee fees and any costs of compliance. Trustee companies avoid the cost of giving bonds (s 29) and gain administrative efficiencies (certificate evidence under s 28), which lowers trustee operating cost and may be reflected in fees. The Territory Treasurer receives unclaimed funds after 3 years (s 34).  \n- Who decides: appointment decisions remain with testators (wills), appointing instruments, courts and persons with appointment power; the Act broadens who can be chosen (adds trustee companies) but preserves forbidding clauses in instruments (s 20(5)–(6)). ASIC and the Corporations Act process can compel transfers between trustee companies (s 53), so a Commonwealth regulator can cause corporate succession without separate Territory processes.  \n- Incentives and behaviour changes: licensed trustee companies gain clearer, broader authority to accept estate and trust appointments, to be sole trustees even where two trustees were previously required (subject to trust instrument limits) (s 20(2)–(3)). Natural persons and smaller trust service providers may face substitution risk. The Act also centralises unclaimed money to the Treasurer (s 34), creating an administrative clearing point.  \n- Compliance and administrative burden: trustee companies must keep separate trust accounts and estate‑level accounts (s 51), file annual unclaimed moneys statements (s 34(3)), and may need to produce photographic copies of grants or instruments to rely on certificates (s 28). Court consent is required in some appointments or to dispense with missing consents (ss 21, 24), creating judicial gating.  \n- Implementation risk and discretion: courts retain discretion to permit or refuse company appointments (ss 14–16, 21), and registrars must accept certificates and register transfers on application (ss 28, 56). ASIC’s national transfer process (Corporations Act Part 5D.6) can effect large structural transfers of trustee business — the Act aligns Territory machinery to give those transfers effect locally (ss 53–56).  \n- Concentrated benefits vs diffuse costs: benefits (new business opportunities, lower securities/bond costs, centralised procedures) are concentrated to licensed trustee companies; costs (administration, possible substitution away from small providers, loss of local control in compulsory transfers) are more diffuse among estates and beneficiaries.  \n\nKey limits and safeguards\n\n- A trust or appointing instrument can forbid company appointment — instrument terms prevail (s 20(5)–(6)).  \n- Directors and chief executive officers may be personally liable for breaches in the same way an individual would be, though subsection (2) of s 50 limits some liability to individual acts.  \n- Courts retain gatekeeping powers over many appointments and applications (multiple sections).  \n\nRelevant sections: key operational provisions include ss 14–22 (authority to act), s 26 (investment pooling), s 28 (certificate evidence), s 29 (no bond), s 34 (unclaimed moneys), s 50 (personal liability), ss 51–52 (trust accounts and removal), and ss 53–56 (interaction with Corporations Act transfer procedures)."},"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"}},"importantCases":[],"_links":{"self":"/api/acts/companies-trustees-and-personal-representatives-act-1981","history":"/api/acts/companies-trustees-and-personal-representatives-act-1981/history","analysis":"/api/acts/companies-trustees-and-personal-representatives-act-1981/analysis","conflicts":"/api/acts/companies-trustees-and-personal-representatives-act-1981/conflicts","importantCases":"/api/acts/companies-trustees-and-personal-representatives-act-1981/important-cases","documents":"/api/acts/companies-trustees-and-personal-representatives-act-1981/documents"}}