{"id":"trustee-act-1893","name":"Trustee Act 1893","slug":"trustee-act-1893","collection":"act","jurisdiction":"nt","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":30682,"registerId":"nt-trustee-act-1893-current","compilationNumber":null,"startDate":"2026-04-01","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Short title and commencement","content":"1 Short title and commencement\nThis Act may be cited as The Trustee Act 1893 and shall come\ninto operation on a day to be fixed by the Governor, by\nProclamation in the Government Gazette.\n","sortOrder":0},{"sectionNumber":"2","sectionType":"section","heading":"Division","content":"2 Division\nThis Act is divided into parts, as follows:\nPart I – Investments\nPart II – Various powers and duties of trustees\nPart III – Powers of the Court\nPart IV – Special provisions as to appointment of new trustees\nPart V – Miscellaneous and supplemental.\n","sortOrder":1},{"sectionNumber":"3","sectionType":"section","heading":"Repeal","content":"3 Repeal\nThe Acts mentioned in the First Schedule hereto are repealed to\nthe extent in such schedule mentioned. Such repeal shall not\naffect:\nI Anything done under any enactment hereby repealed;\nII Any right or privilege acquired, or liability incurred, under any\nenactment hereby repealed.\nAny proceedings begun under the repealed enactments, or any of\nthem, may be continued and concluded as though this Act had not\nbeen passed.\n\nProclamation in the Government Gazette 2\n","sortOrder":2},{"sectionNumber":"4","sectionType":"section","heading":"Application of Part","content":"4 Application of Part\nThis Part applies to trusts created before or after the\n","sortOrder":3},{"sectionNumber":"5","sectionType":"section","heading":"Power of trustee to invest","content":"5 Power of trustee to invest\nA trustee may, unless expressly forbidden by the instrument\ncreating the trust:\n(a) invest trust funds in any form of investment; and\n(b) at any time, vary an investment or realise an investment of\ntrust funds and reinvest money resulting from the realisation in\nany form of investment.\n","sortOrder":4},{"sectionNumber":"6","sectionType":"section","heading":"Duties of trustee in respect of power of investment","content":"6 Duties of trustee in respect of power of investment\n(1) Subject to the instrument creating the trust, a trustee shall, in\nexercising a power of investment:\n(a) if the trustee's profession, business or employment is or\nincludes acting as a trustee or investing money on behalf of\nother persons, exercise the care, diligence and skill that a\nprudent person engaged in that profession, business or\nemployment would exercise in managing the affairs of other\npersons; or\n(b) if the trustee is not engaged in such a profession, business or\nemployment, exercise the care, diligence and skill that a\nprudent person of business would exercise in managing the\naffairs of other persons.\n(2) A trustee shall, in exercising a power of investment, comply with\nany provision of the instrument creating the trust that is binding on\nthe trustee and requires the obtaining of a consent or approval or\ncompliance with any direction with respect to trust investments.\n(3) Subject to the instrument creating the trust, a trustee shall, not less\nthan once in each year, review the performance (individually and as\na whole) of trust investments.\n\nProclamation in the Government Gazette 3\n","sortOrder":5},{"sectionNumber":"7","sectionType":"section","heading":"Law and equity preserved","content":"7 Law and equity preserved\n(1) Any rules and principles of law or equity that impose a duty on a\ntrustee exercising a power of investment including, without limiting\nthe generality of those duties, rules and principles that impose:\n(a) a duty to exercise the powers of a trustee in the best interests\nof all present and future beneficiaries of the trust;\n(b) a duty to invest trust funds in investments that are not\nspeculative or hazardous;\n(c) a duty to act impartially towards beneficiaries and between\ndifferent classes of beneficiaries; or\n(d) a duty to take advice,\ncontinue to apply except so far as they are inconsistent with this or\nany other Act or the instrument creating the trust.\n(2) Any rules and principles of law or equity that relate to a provision in\nan instrument creating a trust that purports to exempt, limit the\nliability of, or indemnify a trustee in respect of a breach of trust,\ncontinue to apply.\n(3) If a trustee is under a duty to take advice, the reasonable costs of\nobtaining the advice are payable out of trust funds.\n","sortOrder":6},{"sectionNumber":"8","sectionType":"section","heading":"Matters to which trustee shall have regard in exercising power","content":"8 Matters to which trustee shall have regard in exercising power\nof investment\n(1) Without limiting the matters that a trustee may take into account\nwhen exercising a power of investment, a trustee shall, so far as\nthey are appropriate to the circumstances of the trust, have regard\nto:\n(a) the purposes of the trust and the needs and circumstances of\nthe beneficiaries;\n(b) the desirability of diversifying trust investments;\n(c) the nature of and risk associated with existing trust\ninvestments and other trust property;\n(d) the need to maintain the real value of the capital or income of\nthe trust;\n(e) the risk of capital or income loss or depreciation;\n(f) the potential for capital appreciation;\n\nProclamation in the Government Gazette 4\n(g) the likely income return and the timing of income return;\n(h) the length of the term of the proposed investment;\n(j) the probable duration of the trust;\n(k) the liquidity and marketability of the proposed investment\nduring, and on the determination of, the term of the proposed\ninvestment;\n(m) the aggregate value of the trust estate;\n(n) the effect of the proposed investment in relation to the tax\nliability of the trust;\n(p) the likelihood of inflation affecting the value of the proposed\ninvestment or other trust property;\n(q) the cost (including commissions, fees, charges and duties\npayable) of making the proposed investment; and\n(r) the results of a review of existing trust investments.\n(2) A trustee may:\n(a) obtain and consider independent and impartial advice\nreasonably required for the investment of trust funds or the\nmanagement of the investment from a person whom the\ntrustee reasonably believes to be competent to give the\nadvice; and\n(b) pay out of trust funds the reasonable costs of obtaining the\nadvice.\n","sortOrder":7},{"sectionNumber":"9","sectionType":"section","heading":"Powers of trustee in relation to securities","content":"9 Powers of trustee in relation to securities\n(1) If securities of a body corporate are subject to a trust, the trustee\nmay concur in any scheme or arrangement:\n(a) for or arising out of the reconstruction, reduction of capital or\nliquidation of, or the issue of shares by, the body corporate;\n(b) for the sale of all or any part of the property and undertaking of\nthe body corporate to another body corporate;\n(c) for the acquisition of securities of the body corporate, or of\ncontrol of the body corporate, by another body corporate;\n(d) for the amalgamation of the body corporate with another body\ncorporate; or\n\nProclamation in the Government Gazette 5\n(e) for the release, modification or variation of rights, privileges or\nliabilities attached to the securities, or any of them,\nin the same manner as if the trustee were beneficially entitled to the\nsecurities.\n(2) The trustee may accept instead of, or in exchange for, the\nsecurities subject to the trust securities of any denomination or\ndescription of another body corporate party to the scheme or\narrangement.\n(3) If a conditional or preferential right to subscribe for securities in a\nbody corporate is offered to a trustee in respect of a holding in that\nbody corporate or another body corporate, the trustee may, as to all\nor any of the securities:\n(a) exercise the right and apply capital money subject to the trust\nin payment of the consideration;\n(b) assign to any person, including a beneficiary under the trust,\nthe benefit of the right, or the title to the right, for the best\nconsideration that can be reasonably obtained; or\n(c) renounce the right.\n(4) A trustee accepting or subscribing for securities under this section\nis, for the purposes of this Part, exercising a power of investment.\n(5) A trustee may retain securities accepted or subscribed for under\nthis section for any period for which the trustee could properly have\nretained the original securities.\n(6) The consideration for an assignment made under subsection (3)(b)\nshall be held as capital of the trust.\n(7) This section applies in relation to securities acquired before or after\nthe commencement of the Trustee Amendment Act (No. 2) 1995\nbut subject to the instrument creating the trust.\n","sortOrder":8},{"sectionNumber":"10","sectionType":"section","heading":"Power of trustee as to calls on shares","content":"10 Power of trustee as to calls on shares\nSubject to the instrument creating the trust:\n(a) a trustee may apply capital money subject to a trust in\npayment of calls on shares subject to the same trust; and\n(b) if the trustee is a trustee company, it may exercise the powers\nconferred by this section notwithstanding the shares on which\nthe calls are made being shares in the trustee company.\n\nProclamation in the Government Gazette 6\n","sortOrder":9},{"sectionNumber":"10A","sectionType":"section","heading":"Power to purchase dwelling house as residence for beneficiary","content":"10A Power to purchase dwelling house as residence for beneficiary\n(1) Subject to the instrument creating the trust, a trustee may:\n(a) purchase a dwelling house for a beneficiary to use as a\nresidence; or\n(b) enter into any other agreement or arrangement to secure for a\nbeneficiary a right to use a dwelling house as a residence.\n(2) Notwithstanding the terms of the instrument creating the trust, a\ntrustee may, if to do so would not unfairly prejudice the interests of\nother beneficiaries, retain as part of the trust property a dwelling\nhouse for a beneficiary to use as a residence.\n(3) A dwelling house purchased, retained or otherwise secured for use\nby the beneficiary as a residence may be made available to the\nbeneficiary for that purpose on such terms and conditions\nconsistent with the trust and the extent of the beneficiary's interest\nas the trustee thinks fit.\n(4) The trustee may retain a dwelling house or any interest or rights in\nrespect of a dwelling house acquired under this section after the\nuse of the dwelling house by the beneficiary has ceased.\n(5) In this section, dwelling house includes:\n(a) any building or part of a building designed, or converted or\ncapable of being converted, for use as a residence; and\n(b) any amenities or facilities for use in association with the use of\na dwelling house.\n","sortOrder":10},{"sectionNumber":"10B","sectionType":"section","heading":"Power of trustee to retain investments","content":"10B Power of trustee to retain investments\nA trustee is not liable for breach of trust by reason only of\ncontinuing to hold an investment that has ceased to be:\n(a) an investment authorised by the instrument creating the trust;\n(b) an investment properly made by the trustee exercising a\npower of investment;\n(c) an investment made under this Part as previously in force\nfrom time to time; or\n(d) an investment authorised by any other Act or the general law.\n\nProclamation in the Government Gazette 7\n","sortOrder":11},{"sectionNumber":"10C","sectionType":"section","heading":"Loans and investments by trustees not breaches of trust in","content":"10C Loans and investments by trustees not breaches of trust in\ncertain circumstances\n(1) If a trustee lends money on the security of property, the trustee is\nnot in breach of trust by reason only of the amount of the loan in\ncomparison to the value of the property at the time when the loan\nwas made:\n(a) if it appears to the Court:\n(i) that, in making the loan, the trustee was acting on a\nreport as to the value of the property made by a person\nwhom the trustee reasonably believed to be competent\nto give such a report and whom the trustee instructed\nand employed independently of any owner of the\nproperty;\n(ii) that the amount of the loan did not exceed two-thirds of\nthe value of the property as stated in the report; and\n(iii) that the loan was made in reliance on the report; or\n(b) if the trustee is insured, by a body prescribed by the Minister\nby notice in the Gazette that it is carrying on the business of\ninsurance against all loss that may arise by reason of the\ndefault of the borrower.\n(2) If a trustee lends money on the security of leasehold property, the\ntrustee is not in breach of trust by reason only that the trustee\ndispensed, either in whole or in part, with the production or\ninvestigation of the lessee's title when making the loan.\n(3) This section applies to transfers of existing securities as well as to\nnew securities and to investments made before or after the\n","sortOrder":12},{"sectionNumber":"10D","sectionType":"section","heading":"Limitation of liability of trustee for loss on improper","content":"10D Limitation of liability of trustee for loss on improper\ninvestments\n(1) If a trustee improperly lends trust money on a security that would\nhave been a proper investment if the sum lent had been smaller\nthan the actual sum lent, the security is to be taken to be a proper\ninvestment in respect of the smaller sum, and the trustee is only\nliable to make good the difference between the sum advanced and\nthe smaller sum, with interest.\n(2) This section applies to investments made before or after the\n\nProclamation in the Government Gazette 8\n","sortOrder":13},{"sectionNumber":"10E","sectionType":"section","heading":"Court may take into account investment strategy in action for","content":"10E Court may take into account investment strategy in action for\nbreach of trust\nIf a trustee has been charged with a breach of trust in respect of a\nduty under this Part relating to the trustee's power of investment, a\nCourt may, when considering the question of the trustee's liability,\ntake into account:\n(a) the nature and purpose of the trust;\n(b) whether the trustee had regard to the matters set out in\nsection 8 so far as is appropriate to the circumstances of the\ntrust;\n(c) the trust investments have been made pursuant to an\ninvestment strategy formulated in accordance with the duty of\na trustee under this Part; and\n(d) the extent the trustee acted on the independent and impartial\nadvice of a person competent (or apparently competent) to\ngive the advice.\n","sortOrder":14},{"sectionNumber":"10F","sectionType":"section","heading":"Power of Court to set off gains and losses arising from","content":"10F Power of Court to set off gains and losses arising from\ninvestment\n(1) A Court may, when considering an action for breach of trust arising\nout of or in respect of an investment by a trustee where a loss has\nbeen or is expected to be sustained by the trust, set off all or part of\nthe loss resulting from that investment against all or part of the gain\nresulting from any other investment whether in breach of trust or\nnot.\n(2) The power of set off conferred by subsection (1) is in addition to\nany other power or entitlement to set off all or part of any loss\nagainst any property.\n","sortOrder":15},{"sectionNumber":"10G","sectionType":"section","heading":"Transitional provision","content":"10G Transitional provision\nAny Act or instrument of a legislative or administrative character\n(whether or not creating a trust) that empowers or requires a person\nto invest money in the investments authorised by this Act is to be\nread as if it empowered or required that person to invest that money\naccording to the provisions of this Part as to the investment of trust\nfunds.\n\nProclamation in the Government Gazette 9\nAppointment of new trustees\n","sortOrder":16},{"sectionNumber":"11","sectionType":"section","heading":"Power of appointing new trustees","content":"11 Power of appointing new trustees\n(1) Where a trustee, either original or substituted, and whether\nappointed by a Court or otherwise, is dead or remains out of the\nTerritory for more than 12 months, or desires to be discharged from\nall or any of the trusts or powers reposed in or conferred on him, or\nrefuses or is unfit to act therein, or is incapable of acting therein,\nthen the person or persons nominated for the purpose of appointing\nnew trustees by the instrument (if any) creating the trust, or if there\nis no such person, or no such person able and willing to act, then\nthe surviving or continuing trustees or trustee for the time being, or\nthe representatives of the last surviving or continuing trustee, may,\nby writing, appoint another person or other persons to be a trustee\nor trustees in the place of the trustee dead, remaining out of the\nTerritory, desiring to be discharged, refusing or being unfit or being\nincapable, as aforesaid.\n(2) On the appointment of a new trustee:\n(a) the number of trustees may be increased; and\n(b) a separate set of trustees may be appointed for any part of the\ntrust property held on trusts distinct from those relating to any\nother part or parts of the trust property, or, if only one trustee\nwas originally appointed, then one separate trustee may be so\nappointed for the first-mentioned part; and\n(c) it shall not be obligatory to appoint more than one new trustee\nwhere only one trustee was originally appointed or to fill up the\noriginal number of trustees where more than 2 trustees were\noriginally appointed; but, except where only one trustee was\noriginally appointed, a trustee shall not be discharged under\nthis section from his trust unless there will be at least\n2 trustees to perform the trust; and\n(d) any assurance or thing requisite for vesting the trust property,\nor any part thereof, jointly in the persons who are the trustees,\nor solely in the new trustee, as the case may require, shall be\nexecuted or done.\n(3) Every new trustee so appointed, as well before as after all the trust\nproperty becomes by law or by assurance or otherwise vested in\nhim, shall have the same powers, authorities, and discretions, and\nbe entitled to the same remuneration (if any), and, if of a continuing\nnature, and may in all respects act as if he had been originally\n\nProclamation in the Government Gazette 10\nappointed a trustee by the instrument (if any) creating the trust.\n(4) The provisions of this section relative to a trustee who is dead\ninclude the case of a person nominated trustee in a will, but dying\nbefore the testator, and those relative to a continuing trustee\ninclude a refusing or retiring trustee, if willing to act in the execution\nof the provisions of this section.\n(5) This section applies only if and as far as a contrary intention is not\nhave effect subject to the terms of that instrument and to any\n(6) This section applies to trusts created either before or after the\n(7) Nothing in this section shall give power to appoint an executor or\nadministrator.\n","sortOrder":17},{"sectionNumber":"12","sectionType":"section","heading":"Retirement of trustees","content":"12 Retirement of trustees\n(1) Where there are more than 2 trustees, if one of them by deed\ndeclares that he is desirous of being discharged from the trust, and\nif his co-trustees and such other person (if any) as is empowered to\nappoint trustees, by deed consent to the discharge of the trustee,\nand to the vesting in the co-trustees alone of the trust property, then\nthe trustee desirous of being discharged shall be deemed to have\nretired from the trust, and shall, by the deed, be discharged\ntherefrom under this Act, without any new trustee being appointed\nin his place.\n(2) Any assurance or thing requisite for vesting the trust property in the\ncontinuing trustees alone shall be executed or done.\nhave effect subject to the terms of that instrument and to any\n(4) This section applies to trusts created either before or after the\n","sortOrder":18},{"sectionNumber":"13","sectionType":"section","heading":"Vesting of trust property in new or continuing trustees","content":"13 Vesting of trust property in new or continuing trustees\n(1) Where a deed by which a new trustee is appointed to perform any\ntrust contains a declaration by the appointor to the effect that any\nestate or interest in any land, subject to the trust, or in any chattel\nso subject, or the right to recover and receive any debt or other\nthing in action so subject, shall vest in the person or persons who,\nby virtue of the deed, become and are the trustee or trustees for\n\nProclamation in the Government Gazette 11\nperforming the trust, that declaration shall, without any conveyance\nor assignment, operate to vest in that person or those persons, as\njoint tenants if more than one, and for the purposes of the trust, that\nestate, interest, or right.\n(2) Where a deed under section 12, by which a retiring trustee is\ndischarged under this Act, contains such a declaration as is in this\nsection mentioned by the retiring and continuing trustees and by the\nother person (if any) empowered to appoint trustees, that\ndeclaration shall, without any conveyance or assignment, operate\nto vest in the continuing trustees alone, as joint tenants and for the\npurposes of the trust, the estate, interest, or right to which the\ndeclaration relates.\n(3) This section does not extend to land under the provisions of the\nLand Title Act 2000, or to land conveyed by way of mortgage for\nsecuring money subject to the trust, or to any such share stock,\nannuity, or property as is only transferable in books kept by a\ncompany or other body, or in manner directed by or under Act of\nParliament.\n(4) For purposes of registration of the deed in the General Registry\nOffice the person or persons making the declaration shall be\ndeemed the conveying party or parties, and the deed shall be\ndeemed a conveyance made by him or them under a power\nconferred by this Act.\n(5) This section applies only to deeds executed after the\nPurchase and sale\n","sortOrder":19},{"sectionNumber":"14","sectionType":"section","heading":"Power of trustees for sale to sell by auction, &c.","content":"14 Power of trustees for sale to sell by auction, &c.\n(1) Where a trust for sale or a power of sale of property is vested in\ntrustees, they may sell or concur with any other person in selling all\nor any part of the property, either subject to prior charges or not,\nand either together or in lots, by public auction or by private\ncontract, at one time or at several times, subject to any such\ncondition respecting title or evidence of title or other matter as the\ntrustees think fit, with power to vary any contract for sale, and to\nbuy in at any auction, or to rescind any contract for sale and to\nre-sell, without being answerable for any loss.\nTrustees exercising power of sale, empowered to convey\n(2) For the purpose of completing any such sale as aforesaid, the\ntrustees shall have full power to convey or otherwise dispose of the\nproperty in question, either by way of revocation and appointment\nof uses, or otherwise, as may be necessary.\n\nProclamation in the Government Gazette 12\nexpressed in the instrument creating the trust or power, and shall\nhave effect subject to the terms of that instrument and to the\n(4) This section applies only to trusts and powers created by an\ninstrument coming into operation after 21 October, 1862.\n","sortOrder":20},{"sectionNumber":"15","sectionType":"section","heading":"Power to sell subject to depreciating conditions","content":"15 Power to sell subject to depreciating conditions\n(1) No sale made by a trustee shall be impeached by any beneficiary\nupon the ground that any of the conditions subject to which the sale\nwas made may have been unnecessarily depreciatory, unless it\nalso appears that the consideration for the sale was thereby\nrendered inadequate.\n(2) No sale made by a trustee shall, after the execution of the\nconveyance, be impeached as against the purchaser upon the\nground that any of the conditions subject to which the sale was\nmade may have been unnecessarily depreciatory, unless it appears\nthat the purchaser was acting in collusion with the trustee at the\ntime when the contract for sale was made.\n(3) No purchaser, upon any sale made by a trustee, shall be at liberty\nto make any objection against the title upon the ground aforesaid.\n(4) This section applies only to sales made after the commencement of\nthis Act.\nVarious powers and liabilities\n","sortOrder":21},{"sectionNumber":"17","sectionType":"section","heading":"Power to authorize receipt of money by banker or legal","content":"17 Power to authorize receipt of money by banker or legal\npractitioner\n(1) A trustee may appoint a legal practitioner to be his agent to receive\nand give a discharge for any money or valuable consideration or\nproperty receivable by the trustee under the trust, by permitting the\nlegal practitioner to have the custody of, and to produce, a deed\nhaving in the body thereof or endorsed thereon a receipt for such\nmoney, consideration, or property, the deed being executed or the\nendorsed receipt signed by the trustee.\n(2) A trustee shall not be chargeable with breach of trust by reason\nonly of his having made or concurred in making any such\nappointment. The producing of any such deed by the legal\npractitioner shall be sufficient authority to the person liable to pay or\ngive the consideration, or transfer or deliver the property, for his\npaying, giving, transferring, or delivering the same to the legal\npractitioner, without the legal practitioner producing any separate or\nother direction or authority from the trustee.\n\nProclamation in the Government Gazette 13\n(3) A trustee may appoint a bank or a legal practitioner to be his agent\nto receive and give a discharge for any money payable to the\ntrustee under or by virtue of a policy of assurance, by permitting the\nbank or legal practitioner to have the custody of and to produce the\npolicy of assurance with a receipt signed by the trustee, and a\ntrustee shall not be chargeable with a breach of trust by reason only\nof his having made or concurred in making any such appointment.\n(4) Nothing in this section shall exempt a trustee from any liability\nwhich he would have incurred if this Act had not been passed, in\ncase he permits any such money, valuable consideration, or\nproperty to remain in the hands or under the control of the bank or\nlegal practitioner for a period longer than is reasonably necessary\nto enable the bank or legal practitioner (as the case may be) to pay\nor transfer the same to the trustee.\n(5) This section applies only where the money or valuable\nconsideration or property is received after the commencement of\nthis Act.\n(6) Nothing in this section shall authorize a trustee to do anything\nwhich he is in express terms forbidden to do, or to omit anything\nwhich he is in express terms directed to do, by the instrument\n","sortOrder":22},{"sectionNumber":"18","sectionType":"section","heading":"Power to insure building","content":"18 Power to insure building\nCourt may authorize expenditure or improvements, &c.\n(2) The Supreme Court may, on the application ex parte or otherwise,\nof a trustee, or of a beneficiary interest in trust property, authorize\nthe expenditure by the trustee, out of the capital or income of the\ntrust property or of the estate of a deceased person, of such sum as\nthe Court may think fit in repairing, reinstating, or improving the\ntrust property or estate, and may by the same or any subsequent\norder authorize the trustee to raise moneys required for the purpose\nof such expenditure by mortgage of the trust property or estate\nconcerned, or of any other property or estate subject to the same\ntrusts.\n(3) This section does not apply to any building or property which a\ntrustee is bound forthwith to convey absolutely to any beneficiary\nupon being requested to do so.\n(4) This section applies to trusts created either before or after the\ncommencement of this Act; but nothing in this section shall\nauthorize any trustee to do anything which he is in express terms\nforbidden to do, or to omit to do anything which he is in express\nterms directed to do, by the instrument creating the trust.\n\nProclamation in the Government Gazette 14\n","sortOrder":23},{"sectionNumber":"18A","sectionType":"section","heading":"Power to insure building or other property","content":"18A Power to insure building or other property\n(1) A trustee may insure a building or other insurable property against\nloss or damage, by fire or otherwise, and against any risk or liability\nthat it would be prudent for a person to insure against if acting for\nhimself or herself.\n(2) The amount that a property is insured for must not exceed the full\nvalue of the property but that value is not limited to the sale value\nand may include the replacement cost at the material time as well\nas indemnity against loss of rent and other collateral risks.\n(3) A trustee may pay the premiums for the insurance out of any\nincome from the property insured or out of the income of any other\nproperty subject to the same trusts, without obtaining the consent of\nany person, despite that there may be a person entitled wholly or\npartly to that income.\n","sortOrder":24},{"sectionNumber":"19","sectionType":"section","heading":"Power of trustees of renewable leaseholds to renew and raise","content":"19 Power of trustees of renewable leaseholds to renew and raise\nmoney for the purpose\n(1) A trustee of any leaseholds for lives or years which are renewable\nfrom time to time, either under any covenant or contract, or by\ncustom or usual practice, may, if he thinks fit, and shall, if thereto\nrequired by any person having any beneficial interest, present or\nfuture or contingent, in the leaseholds, use his best endeavors to\nobtain from time to time a renewed lease of the same\nhereditaments on the accustomed and reasonable terms, and for\nthat purpose may from time to time make or concur in making a\nsurrender of the lease for the time being subsisting, and do all such\nother acts as are requisite:\nProvided that, where by the terms of the settlement or will, the\nperson in possession for his life or other limited interest is entitled to\nenjoy the same without any obligation to renew or to contribute to\nthe expense of renewal, this section shall not apply, unless the\nconsent in writing of that person is obtained to the renewal on the\npart of the trustee.\n(2) If money is required to pay for the renewal, the trustee effecting the\nrenewal may pay the same out of any money then in his hands in\ntrust for the persons beneficially interested in the lands to be\ncomprised in the renewed lease, and if he has not in his hands\nsufficient money for the purpose, he may raise the money required\nby mortgage of the hereditaments to be comprised in the renewed\nlease, or of any other hereditaments for the time being subject to\nthe uses or trusts to which those hereditaments are subject; and no\nperson advancing money upon a mortgage purporting to be under\nthis power shall be bound to see that the money is wanted, or that\n\nProclamation in the Government Gazette 15\nno more is raised than is wanted for the purpose.\n(3) This section applies to trusts created either before or after the\ncommencement of this Act; but nothing in this section shall\nauthorize any trustee to do anything which he is in express terms\nforbidden to do, or to omit to do anything which he is in express\nterms directed to do, by the instrument creating the trust.\n","sortOrder":25},{"sectionNumber":"20","sectionType":"section","heading":"Power of trustee to give receipts","content":"20 Power of trustee to give receipts\n(1) The receipt in writing of any trustee for any money, securities, or\nother personal property or effects payable, transferable, or\ndeliverable to him under any trust or power shall be a sufficient\ndischarge for the same, and shall effectually exonerate the person\npaying, transferring, or delivering the same from seeing to the\napplication or being answerable for any loss or misapplication\nthereof.\n(2) This section applies to trusts created either before or after the\n","sortOrder":26},{"sectionNumber":"21","sectionType":"section","heading":"Power for executors and trustees to compound, &c.","content":"21 Power for executors and trustees to compound, &c.\n(2) Two or more trustees acting together, or a sole acting trustee,\nwhere, by the instrument (if any) creating the trust, a sole trustee is\nauthorized to execute the trusts and powers thereof, may, if and as\nhe or they may think fit, accept any composition or any security,\nreal or personal, for any debt or for any property, real or personal,\nclaimed, and may allow any time for payment of any debt, and may\ncompromise, compound, abandon, submit to arbitration, or\notherwise settle any debt, account, claim, or thing whatever relating\nto the trust, and for any of those purposes may enter into, give,\nexecute, and do such agreements, instruments of composition or\narrangement, releases, and other things, as to him or them seem\nexpedient, without being responsible for any loss occasioned by\nany act or thing so done by him or them in good faith.\nhave effect subject to the terms of that instrument and to the\n(4) This section applies to trusts constituted or created either before or\nafter the commencement of this Act.\n","sortOrder":27},{"sectionNumber":"21A","sectionType":"section","heading":"Power to apply to Supreme Court for declaration as to validity,","content":"21A Power to apply to Supreme Court for declaration as to validity,\n&c.\n(1) An executor or trustee of property, or a person interested under, or\nin the invalidity of, a disposition of property, whether made before or\n\nProclamation in the Government Gazette 16\nafter the commencement of this section, may at any time apply to\nthe Supreme Court for a declaration as to the validity, in respect of\nthe rule against perpetuities, of the disposition.\n(2) The Supreme Court may, on an application under subsection (1),\nmake a declaration, having regard to facts existing and events that\nhave occurred at the time the declaration is made, as to the validity\nor otherwise of the disposition in respect of which the application is\nmade.\n(3) The Supreme Court shall not make a declaration under\nsubsection (2) in respect of a disposition the validity of which\ncannot be determined at the time the Court is asked to make the\ndeclaration.\n(4) If the Supreme Court refuses to make a declaration under\nsubsection (2) relating to a disposition, it may give such directions\nas it thinks fit on:\n(a) the construction of the instrument by which the disposition is\nmade;\n(b) the determination of a person who is a measuring life for the\npurposes of the disposition;\n(c) whether a person who is a measuring life is to be presumed\ndead;\n(d) whether, before the determination of the perpetuity period\napplicable to the disposition, an interest is to be treated as\nincapable of vesting during the period; and/or\n(e) any other matter on which an application could properly be\nmade to the Court apart from under this Act.\n","sortOrder":28},{"sectionNumber":"22","sectionType":"section","heading":"Distribution of estate after notice by trustee","content":"22 Distribution of estate after notice by trustee\n(1) Where a trustee has given notices such as would have been given\nby the Court in an administration suit for creditors, beneficiaries,\nand others to send in to the trustee their claims against the trust\nproperty, the trustee may, at the expiration of the time named in the\nnotices, distribute the trust property or any part thereof amongst the\npersons entitled thereto, having regard only to the claims of which\nhe then has notice, and shall not be liable for the property or any\npart thereof so distributed to any person of whose claim he had no\nnotice at the time of the distribution.\n(2) Where a trustee has received a claim or notice of claim against a\ntrust property, and he disputes the same, such trustee may give to\nthe person making such claim, or giving such notice, a notice in\n\nProclamation in the Government Gazette 17\nwriting that such claim is disputed, and requiring such claimant\neither to withdraw such claim or to institute proceedings to enforce\nsuch claim within 6 months of the service of such last-mentioned\nnotice; and if such claim is not so withdrawn or prosecuted, the\ntrustee may apply by summons in Chambers to any Judge of the\nSupreme Court, on affidavit setting out the facts for an order that,\nas against such trustee, such claim shall be absolutely barred, and\nany such Judge may make such order as he shall deem just, and\nthe same shall bind all persons whom it purports to affect.\n(3) Nothing in this section shall prejudice the right of any person to\nfollow the property or any part thereof into the hands of any person\nwho has received the same.\n(4) A trustee desirous of giving notices under this section may, on\napplication, ex parte or otherwise, obtain the direction of the\nSupreme Court, or of an Associate Judge thereof, as to what\nnotices are proper to be given, and as to the mode of service.\n","sortOrder":29},{"sectionNumber":"23","sectionType":"section","heading":"Powers of 2 or more trustees","content":"23 Powers of 2 or more trustees\n(1) Where a power or trust is given to or vested in 2 or more trustees\njointly, then, unless the contrary is expressed in the instrument (if\nany) creating the power or trust, the same may be exercised or\nperformed by the survivor or survivors of them for the time being.\n(2) This section applies only to trusts constituted after or created by\ninstruments coming into operation after the commencement of this\nAct.\n","sortOrder":30},{"sectionNumber":"24","sectionType":"section","heading":"Powers of maintenance in case of infants","content":"24 Powers of maintenance in case of infants\n(1) Where any property is held by trustees in trust for an infant, either\nfor life or for any greater interest, and whether absolutely or\ncontingently on his attaining the age of 21 years, or on the\noccurrence of any event before his attaining that age, the trustees\nmay, at their sole discretion, pay to the infant's parent or guardian\n(if any) or otherwise apply for or towards the infant's maintenance,\neducation, or benefit, the income of that property, or any part\nthereof, whether there is or is not any other fund applicable to the\nsame purpose, or any person bound by law to provide for the\ninfant's maintenance.\n(2) The trustees shall accumulate all the residue of that income in the\nway of compound interest by investing the same, and the resulting\nincome thereof, from time to time on securities in which they are by\nthe instrument of trust (if any), or by law, authorized to invest trust\nmoney, and shall hold those accumulations for the benefit of the\nperson who ultimately becomes entitled to the property from which\n\nProclamation in the Government Gazette 18\nthe same arose, but so that the trustees may at any time, if they\nthink fit, apply those accumulations, or any part thereof, as if the\nsame were income arising in the then current year.\nexpressed in the instrument under which the interest of the infant\narises, and shall have effect subject to the terms of that instrument\nand to the provisions therein contained.\n(4) This section applies whether the instrument of trust comes into\noperation before or after the commencement of this Act.\n","sortOrder":31},{"sectionNumber":"24A","sectionType":"section","heading":"Power to apply capital towards advancement and benefit","content":"24A Power to apply capital towards advancement and benefit\n(1) Where, under a trust, a person is entitled to the capital of the trust\nproperty or any share thereof, the trustee may, from time to time out\nof that capital, pay or apply for the maintenance, education,\nadvancement or benefit of that person in such manner as the\ntrustee shall in his absolute discretion think fit an amount not\nexceeding in all $2,000 or half the capital, whichever is the greater,\nor, with the consent of the Court, an amount greater than that\namount.\n(2) This section applies only where, and in so far as, a contrary intent is\nnot expressed in the instrument, if any, under which the interest of\nthe person entitled to the capital or any share of the trust property\narises, and shall have effect subject to the terms of that instrument.\n(3) This section applies only where the trust property consists of money\nor securities or property held upon trust for sale, calling in and\nconversion, and the money or securities or the proceeds of the\nsale, calling in and conversion are not by statute or in equity\nconsidered as land.\n(4) The power conferred by this section may be exercised whether a\nperson is entitled absolutely or contingently on his attaining any\nspecified age or on the happening of any event, or whether his\ninterest is subject to a gift over on his death under any specified\nage or on the happening of any other event, and notwithstanding\nthat the interest of the person so entitled is liable to be defeated by\nthe exercise of a power of appointment or revocation, or to be\ndiminished by the increase of the class to which he belongs or\nwhether the person is entitled in possession or in remainder or\nreversion.\n(5) If a person is or becomes absolutely and indefeasibly entitled to a\nshare in the trust property, money paid or applied under\nsubsection (1) shall be brought into account as part of that share.\n\nProclamation in the Government Gazette 19\n(6) No action shall be taken under subsection (1) so as to prejudice a\nperson entitled to any prior life or other interest, whether vested or\ncontingent, in the money paid or applied, unless such person is in\nexistence, is under no disability and consents in writing to the\naction.\n","sortOrder":32},{"sectionNumber":"25","sectionType":"section","heading":"Exoneration of trustees in respect of certain powers of","content":"25 Exoneration of trustees in respect of certain powers of\nattorney\nA trustee acting or paying money in good faith, under or in\npursuance of any power of attorney, shall not be liable for any such\nact or payment by reason of the fact that at the time of the payment\nor act the person who gave the power of attorney was dead or had\ndone some act to avoid the power, if this fact was not known to the\ntrustee at the time of his so acting or paying: Provided that nothing\nin this section shall affect the right of any person entitled to the\nmoney against the person to whom the payment is made, and that\nthe person so entitled shall have the same remedy against the\nperson to whom the payment is made as he would have had\nagainst the trustee.\n","sortOrder":33},{"sectionNumber":"26","sectionType":"section","heading":"Implied indemnity of trustees","content":"26 Implied indemnity of trustees\nA trustee shall, without prejudice to the provisions of the instrument\n(if any) creating the trust, be chargeable only for money, stocks,\nfunds, and securities actually received by him, notwithstanding his\nsigning any receipt for the sake of conformity, and shall be\nanswerable and accountable only for his own acts, receipts,\nneglects, or defaults, and not for those of any other trustee, nor for\nany banker, broker, or other person with whom any trust moneys or\nsecurities may be deposited, nor for the insufficiency or deficiency\nof any stocks, funds or securities nor for any other loss, unless the\nsame happens through his own wilful default, and may reimburse\nhimself; or pay or discharge out of the trust premises, all expenses\nincurred in or about the execution of his trusts or powers.\nAppointment of new trustees and vesting orders\n","sortOrder":34},{"sectionNumber":"27","sectionType":"section","heading":"Power of the Court to appoint new trustees","content":"27 Power of the Court to appoint new trustees\n(1) The Supreme Court may, whenever it is expedient to appoint a new\ntrustee or new trustees, and it is found inexpedient, difficult, or\nimpracticable so to do without the assistance of the Court, make an\norder for the appointment of a new trustee or new trustees, either in\nsubstitution for or in addition to any existing trustee or trustees, or\nalthough there is no trustee. In particular, and without prejudice to\n\nProclamation in the Government Gazette 20\nthe generality of the foregoing provision, the Court may make an\norder for the appointment of a new trustee in substitution for a\ntrustee who is found guilty of an indictable offence, or has been\nadjudicated insolvent or made an assignment or composition or\narrangement with his creditors under any Act in force in that behalf,\nand may remove such last-mentioned trustee.\n(2) An order under this section, and any consequential vesting order or\nconveyance shall not operate further or otherwise as a discharge to\nany former or continuing trustee than an appointment of new\ntrustees under any power for that purpose contained in any\ninstrument would have operated.\n(3) Nothing in this section shall give power to appoint an executor or\nadministrator.\n","sortOrder":35},{"sectionNumber":"28","sectionType":"section","heading":"Vesting order as to land","content":"28 Vesting order as to land\nIn any of the following cases, namely:\nI Where the Supreme Court appoints or has appointed a new\ntrustee;\nII Where a trustee entitled to or possessed of any land, or\nentitled to a contingent right therein, either solely or jointly with\nany other person:\n(a) is a lunatic or person of unsound mind; or\n(b) is an infant; or\n(c) is out of the jurisdiction of the Supreme Court; or\n(d) cannot be found;\nIII Where it is uncertain who was the survivor of 2 or more\ntrustees jointly entitled to or possessed of any land or entitled\nto a contingent right therein;\nIV Where as to the last trustee known to have been entitled to or\npossessed of any land, or entitled to a contingent right therein,\nit is uncertain whether he is living or dead;\nV Where there is no heir or representative to a trustee who was\nentitled to or possessed of land or entitled to a contingent right\ntherein and has died intestate as to that land, or where it is\nuncertain who is the heir or representative or devisee of a\ntrustee who was entitled to or possessed of land or entitled to\na contingent right therein and is dead; and\n\nProclamation in the Government Gazette 21\nVI Where a trustee jointly or solely entitled to or possessed of\nany land, or entitled to a contingent right therein, has been\nrequired, by or on behalf of a person entitled to require a\nconveyance of the land or a release of the right, to convey the\nland or to release the right, and has wilfully refused or\nneglected to convey the land or release the right for 28 days\nafter the date of the requirement,\nthe Supreme Court may make an order (in this Act called a vesting\norder) vesting the land in any such person in any such manner and\nfor any such estate as the Court may direct, or releasing or\ndisposing of the contingent right to such person, as the Court may\ndirect: Provided that:\n(a) where the order is consequential on the appointment of a new\ntrustee the land shall be vested for such estate as the Court\nmay direct in the persons who on the appointment are the\ntrustees; and\n(b) where the order relates to a trustee entitled jointly with another\nperson, and such trustee is out of the jurisdiction of the\nSupreme Court or cannot be found, the land or right shall be\nvested in such other person, either alone or with some other\nperson.\n","sortOrder":36},{"sectionNumber":"29","sectionType":"section","heading":"Contingent rights of unborn trustees","content":"29 Contingent rights of unborn trustees\nWhere any land is subject to a contingent right in an unborn person\nor class of unborn persons who, on coming into existence, would, in\nrespect thereof, become entitled to or possessed of the land on any\ntrust, the Supreme Court may make an order releasing the land\nfrom the contingent right, or may make an order vesting in any\nperson the estate to or of which the unborn person or class of\nunborn persons would, on coming into existence, be entitled or\npossessed in the land.\n","sortOrder":37},{"sectionNumber":"30","sectionType":"section","heading":"Vesting order in place of conveyance by infant mortgagee","content":"30 Vesting order in place of conveyance by infant mortgagee\nWhere any person entitled to or possessed of land or entitled to a\ncontingent right in land, either solely or jointly with any other\nperson, by way of security for money, is a lunatic, or a person of\nunsound mind, or an infant, the Supreme Court may make an order\nvesting or releasing or disposing of the land or right in like manner\nas in the case of a trustee who is a lunatic, a person of unsound\nmind, or an infant.\n\nProclamation in the Government Gazette 22\n","sortOrder":38},{"sectionNumber":"31","sectionType":"section","heading":"Vesting order in place of conveyance by heir or devisee of","content":"31 Vesting order in place of conveyance by heir or devisee of\nmortgagee\nWhere a mortgagee of land has died without having entered into\nthe possession or into the receipt of the rents and profits thereof,\nand the money due in respect of the mortgage has been paid to a\nperson entitled to receive the same, or that last-mentioned person\nconsents to an order for the re-conveyance of the land, then the\nSupreme Court may make an order vesting the land in such person\nor persons in such manner and for such estate as the Court may\ndirect in any of the following cases, namely:\n(a) where an heir or representative or devisee of the mortgagee is\nout of the jurisdiction of the Supreme Court, or cannot be\nfound;\n(b) where an heir or representative or devisee of the mortgagee,\non demand made by or on behalf of a person entitled to\nrequire a conveyance of the land, has stated in writing that he\nwill not convey the same, or does not convey the same for 28\ndays next after a proper instrument conveying the land has\nbeen tendered to him by or on behalf of the person so entitled;\n(c) where it is uncertain which of several devisees of the\nmortgagee was the survivor;\n(d) where it is uncertain as to the survivor of several devisees of\nthe mortgagee, or as to the heir or representative of the\nmortgagee, whether he is living or dead; and\n(e) where there is no heir or representative to a mortgagee who\nhas died intestate as to the land, or where the mortgagee has\ndied and it is uncertain who is his heir or representative or\ndevisee.\n","sortOrder":39},{"sectionNumber":"32","sectionType":"section","heading":"Vesting order consequential on judgment for sale or mortgage","content":"32 Vesting order consequential on judgment for sale or mortgage\nof land\nWhere any Court gives a judgment, or makes an order directing the\nsale or mortgage of land, every person, whether under disability or\nnot, who is entitled to or possessed of the land, or entitled to a\ncontingent right therein, and is a party to the action or proceeding,\nor otherwise bound by the judgment or order, shall be deemed to\nbe so entitled or possessed, as the case may be, as a trustee within\nthe meaning of this Act; and the Supreme Court may, if it thinks\nexpedient, make an order vesting the land, or any part thereof, for\nsuch estate as that Court thinks fit in the purchaser or mortgagee,\nor in any other person.\n\nProclamation in the Government Gazette 23\n","sortOrder":40},{"sectionNumber":"33","sectionType":"section","heading":"In what cases the heir, representative, or devisee of a person,","content":"33 In what cases the heir, representative, or devisee of a person,\nwho has contracted to sell land, shall be deemed a trustee\nwithin this Act\nWhere a person having contracted in writing to sell land dies\nwithout having conveyed the land in pursuance of his contract, and\nthe consideration for the sale has been paid or satisfied in his\nlifetime, or after his decease, or the person entitled to receive the\nconsideration money or such part thereof as may remain\nunsatisfied, is willing to receive the same, and there is no dispute or\nquestion as to the making of the contract, or as to the right of the\npurchaser of the land so agreed to be sold to demand specific\nperformance of such contract, and the Court shall be satisfied that\nthe only impediment to the performance thereof arises from the fact\nthat the legal estate in the land has become vested in an heir,\nrepresentative, or devisee of the deceased vendor, who is an infant,\nor lunatic, or of unsound mind, the Supreme Court may make an\norder declaring the heir, representative, or devisee, as the case\nmay be, of the deceased vendor to be a trustee of the land\ncontracted to be sold, and such heir, representative, or devisee\nshall thereupon be deemed to be a trustee thereof within the\nmeaning of this Act, and at the same time or subsequently the said\nCourt may order that the land shall vest in such person in such\nmanner and for such estate as the said Court may direct, and may\ngive directions as to the payment and satisfaction of any unpaid or\nunsatisfied purchase-money.\n","sortOrder":41},{"sectionNumber":"34","sectionType":"section","heading":"Vesting order consequential on judgment for specific","content":"34 Vesting order consequential on judgment for specific\nperformance, &c.\nWhere a judgment is given for the specific performance of a\ncontract concerning any land, or for the partition or sale in lieu of\npartition, or exchange of any land, or generally where any judgment\nis given for the conveyance of any land, either in cases arising out\nof the doctrine of election or otherwise, the Supreme Court may\ndeclare that any of the parties to the action are trustees of the land,\nor any part thereof, within the meaning of this Act, or may declare\nthat the interests of unborn persons who might claim under any\nparty to the action, or under the will or voluntary settlement of any\nperson deceased who was during his lifetime a party to the contract\nor transactions concerning which the judgment is given, are the\ninterests of persons who, on coming into existence, would be\ntrustees within the meaning of this Act; and thereupon the Supreme\nCourt may make a vesting order relating to the rights of those\npersons, born and unborn, as if they had been trustees.\n\nProclamation in the Government Gazette 24\n","sortOrder":42},{"sectionNumber":"35","sectionType":"section","heading":"Effects of vesting order","content":"35 Effects of vesting order\nA vesting order under any of the foregoing provisions shall, in the\ncase of a vesting order consequential on the appointment of a new\ntrustee, have the same effect as if the persons who before the\nappointment were the trustees (if any) had duly executed all proper\nconveyances of the land for such estate as the Court directs, or if\nthere is no such person, or no such person of full capacity, then as\nif such person had existed and been of full capacity and had duly\nexecuted all proper conveyances of the land for such estate as the\nCourt directs, and shall in every other case have the same effect as\nif the trustee, or other person, or description, or class of persons to\nwhose rights or supposed rights the said provisions respectively\nrelate, had been an ascertained and existing person of full capacity,\nand had executed a conveyance or release to the effect intended\nby the order.\n","sortOrder":43},{"sectionNumber":"36","sectionType":"section","heading":"Power to appoint person to convey","content":"36 Power to appoint person to convey\nIn all cases where a vesting order can be made under any of the\nforegoing provisions the Supreme Court may, if it is more\nconvenient, appoint a person to convey the land or release the\ncontingent right, and a conveyance or release by that person in\nconformity with the order shall have the same effect as an order\nunder the appropriate provision.\n","sortOrder":44},{"sectionNumber":"37","sectionType":"section","heading":"Vesting orders as to stock and choses in action","content":"37 Vesting orders as to stock and choses in action\n(1) In any of the following cases, namely:\nI Where the Supreme Court appoints or has appointed a new\ntrustee; and\nII Where a trustee entitled alone or jointly with another person to\nstock or to a chose in action:\n(a) is a lunatic, a person of unsound mind, or an infant; or\n(b) is out of the jurisdiction of the Supreme Court; or\n(c) cannot be found; or\n(d) neglects or refuses to transfer stock or receive the\ndividends or income thereof, or to sue for or recover a\nchose in action, according to the direction of the person\nabsolutely entitled thereto, for 28 days next after a\nrequest in writing has been made to him by the person\nso entitled; or\n\nProclamation in the Government Gazette 25\n(e) neglects or refuses to transfer stock, or receive the\ndividends or income thereof, or to sue for or recover a\nchose in action for 28 days next after an order of the\nSupreme Court for that purpose has been served on\nhim; or\nIII Where it is uncertain whether a trustee entitled, alone or jointly\nwith another person, to stock or to a chose in action is alive or\ndead,\nthe Supreme Court may make an order vesting the right to transfer\nor call for a transfer of stock or to receive the dividends or income\nthereof, or to sue for or recover a chose in action in any such\nperson as the Court may appoint: Provided that:\n(a) where the order is consequential on the appointment by the\nCourt of a new trustee, the right shall be vested in the persons\nwho, on the appointment, are the trustees; and\n(b) where the person whose right is dealt with by the order was\nentitled jointly with another person, the right shall be vested in\nthat last-mentioned person, either alone or jointly with any\nother person whom the Court may appoint.\n(2) In all cases where a vesting order can be made under this section\nthe Court may, if it is more convenient, appoint some proper person\nto make or join in making the transfer.\n(3) The person in whom the right to transfer or call for the transfer of\nany stock is vested by an order of the Court under this Act may\ntransfer the stock to himself or any person, according to the order;\nand all companies shall obey every order under this section\naccording to its tenor.\n(4) After notice in writing of an order under this section, it shall not be\nlawful for any company to transfer any stock to which the order\nrelates, or to pay any dividends thereon, except in accordance with\nthe order.\n(5) The Supreme Court may make declarations and give directions\nconcerning the manner in which the right to any stock or chose in\naction vested under the provisions of this Act is to be exercised.\n(6) The provisions of this Act as to vesting orders shall apply to shares\nin ships registered under the Acts relating to merchant shipping as\nif they were stock.\n\nProclamation in the Government Gazette 26\n","sortOrder":45},{"sectionNumber":"38","sectionType":"section","heading":"Vesting order as to stock in cases of lunatic or infant","content":"38 Vesting order as to stock in cases of lunatic or infant\nmortgagee\nWhere a person entitled alone or jointly with another person to\nstock or a chose in action by way of security for money is a lunatic,\nor a person of unsound mind, or an infant, the Supreme Court may\nmake an order vesting the right to transfer, or call for a transfer of\nthe stock, or receive the dividends or income thereof, or to sue for\nor recover the chose in action in like manner as in the case of a\ntrustee who is a lunatic, a person of unsound mind, or an infant.\n","sortOrder":46},{"sectionNumber":"39","sectionType":"section","heading":"Persons entitled to apply for vesting orders","content":"39 Persons entitled to apply for vesting orders\n(1) An order under this Act for the appointment of a new trustee, or\nconcerning any land, stock, or chose in action subject to a trust,\nmay be made on the application of any person beneficially\ninterested in the land, stock, or chose in action, whether under\ndisability or not, or on the application of any person duly appointed\ntrustee thereof.\n(2) An order under this Act concerning any land, stock, or chose in\naction subject to a mortgage may be made on the application of any\nperson, whether under disability or not, who is beneficially\ninterested, in equity or otherwise, in the land, stock, or chose in\naction, or of any person interested in the money secured by the\nmortgage.\n","sortOrder":47},{"sectionNumber":"40","sectionType":"section","heading":"Powers of new trustees appointed by Court","content":"40 Powers of new trustees appointed by Court\nEvery trustee appointed by a Court of competent jurisdiction shall,\nas well before as after the trust property becomes by law, or by\nassurance or otherwise, vested in him, have the same powers,\nauthorities, and discretions, and may in all respects act, as if he had\nbeen originally appointed a trustee by the instrument (if any)\n","sortOrder":48},{"sectionNumber":"41","sectionType":"section","heading":"Power to charge costs on trust estate","content":"41 Power to charge costs on trust estate\nThe Supreme Court may order the costs of and incident to any\napplication for an order appointing a new trustee, or for a vesting\norder, or for an order releasing or disposing of a contingent right, or\nof and incident to any such order, or any conveyance or transfer in\npursuance thereof, to be paid or raised out of the land or personal\nestate in respect whereof the same is made, or out of the income\nthereof, or to be borne and paid in such manner and by such\npersons as to the Court may seem just.\n\nProclamation in the Government Gazette 27\n","sortOrder":49},{"sectionNumber":"42","sectionType":"section","heading":"Trustees of charities","content":"42 Trustees of charities\nThe powers conferred by this Act as to vesting orders may be\nexercised for vesting any land, stock, or chose in action in any\ntrustee of a charity or society over which the Supreme Court would\nhave jurisdiction upon action duly instituted, whether the\nappointment of the trustee was made by instrument under a power\nor by the Supreme Court under its general or statutory jurisdiction.\n","sortOrder":50},{"sectionNumber":"43","sectionType":"section","heading":"Orders made upon certain allegations to be conclusive","content":"43 Orders made upon certain allegations to be conclusive\nevidence\nWhere a vesting order has been made as to any land under this\nAct, or under any Act relating to lunacy, founded on an allegation of\nthe infancy or personal incapacity of a trustee, representative or\nmortgagee, or on an allegation that a trustee or the heir or\nrepresentative or devisee of a mortgagee is out of the jurisdiction of\nthe Supreme Court, or cannot be found, or that it is uncertain which\nof several trustees or which of several devisees of a mortgagee\nwas the survivor, or whether the last trustee, or the heir or\nrepresentative or last surviving devisee of a mortgagee, is living or\ndead, or on an allegation that any trustee or mortgagee has died\nintestate without an heir, or has died and it is not known who is his\nheir or representative or devisee, the fact that the order has been\nso made shall be conclusive evidence of the fact alleged in any\nCourt upon any question as to the validity of the order; but this\nsection shall not prevent the Supreme Court from directing a\nreconveyance, or a redisposition of any contingent right, or the\npayment of costs occasioned by any such order if improperly\nobtained.\nPayment into Court by trustees and mortgagees\n","sortOrder":51},{"sectionNumber":"44","sectionType":"section","heading":"Payment into court by trustees and mortgagees","content":"44 Payment into court by trustees and mortgagees\n(1) Trustees or mortgagees, or the majority of trustees or mortgagees,\nhaving in their hands or under their control money or securities\nbelonging to a trust, or in respect whereof a trust has arisen by\nimplication or construction of law, may, on filing an affidavit shortly\ndescribing the instrument under or in consequence of which the\ntrust arises, according to the best of their knowledge and belief, or if\nthere be no such instrument, then shortly setting out the facts of the\ncase, pay the money or securities into the Supreme Court; and the\nsame shall, subject to rules of Court, be dealt with according to the\norders of the Supreme Court, which may also order the\nadministration of the trusts in respect of such money or securities.\n(2) The receipt or certificate of the proper officer shall be a sufficient\ndischarge to trustees for the money or securities so paid into Court.\n\nProclamation in the Government Gazette 28\n(3) Where any moneys or securities are vested in any persons as\ntrustees or mortgagees, and the majority are desirous of paying the\nsame into Court, but the concurrence of the other or others cannot\nbe obtained, the Supreme Court may order the payment into Court\nto be made by the majority without the concurrence of the other or\nothers; and where any such moneys or securities are deposited\nwith any banker, broker, or other depositary, the Court may order\npayment or delivery of the moneys or securities to the majority of\nthe trustees for the purpose of payment into Court, and every\ntransfer, payment, and delivery made in pursuance of any such\norder shall be valid and take effect as if the same had been made\non the authority or by the act of all the persons entitled to the\nmoneys and securities so transferred, paid, or delivered.\nMiscellaneous\n","sortOrder":52},{"sectionNumber":"47","sectionType":"section","heading":"Power to give judgment in absence of a trustee","content":"47 Power to give judgment in absence of a trustee\nWhere in any action the Supreme Court is satisfied that diligent\nsearch has been made for any person who, in the character of\ntrustee, is made a defendant in any action, to serve him with a\nprocess of the Court, and that he cannot be found, the Court may\nhear and determine the action, and give judgment therein against\nthat person in his character of a trustee, as if he had been duly\nserved, or had entered an appearance in the action, and had also\nappeared by his counsel and solicitor at the hearing, but without\nprejudice to any interest he may have in the matters in question in\nthe action in any other character.\n","sortOrder":53},{"sectionNumber":"48","sectionType":"section","heading":"Trustee to have power to sell or convey in certain cases","content":"48 Trustee to have power to sell or convey in certain cases\n(1) Where a trustee has, by the instrument creating the trust, power,\nsubject to the direction, request, or authority of any person, to sell,\nconvey, assure, mortgage, or otherwise deal with property, and\nsuch person is dead, of unsound mind, a lunatic, under disability, or\nabsent from the Territory, the Supreme Court may authorize the\ntrustee to sell, convey, assure, mortgage, or otherwise deal with the\nproperty as if such direction, request, or authority had been given,\nbut the power conferred by this section shall not be exercised so as\nto injuriously affect any beneficial interest of such person.\n(2) This section applies to trusts created either before or after the\n(3) This section shall authorize the Supreme Court to confirm any sale,\nconveyance, assurance, mortgage, or other dealing heretofore\nmade or executed by such trustee in any case in which the Court,\nunder this Act, would have authorized the same had it not been\nmade or executed.\n\nProclamation in the Government Gazette 29\n","sortOrder":54},{"sectionNumber":"49","sectionType":"section","heading":"Power to sanction sale of land or minerals separately","content":"49 Power to sanction sale of land or minerals separately\n(1) Where a trustee is for the time being authorized to dispose of land\nby way of sale, exchange, or partition, the Supreme Court may\nsanction his so disposing of the land with an exception or\nreservation of any minerals, and with or without rights and powers\nof or incidental to the working, getting, or carrying away of the\nminerals, or may sanction his so disposing of the minerals, with or\nwithout the said rights or powers, separately from the residue of the\nland.\n(2) Any such trustee, with the said sanction previously obtained, may,\nunless forbidden by the instrument creating the trust or direction,\nfrom time to time, without any further application to the Court, so\ndispose of any such land or minerals.\n(3) Nothing in this section shall derogate from any other power of a\ntrustee.\n","sortOrder":55},{"sectionNumber":"49A","sectionType":"section","heading":"Relief from liability for breach of trust","content":"49A Relief from liability for breach of trust\nIf it appears to the Supreme Court:\n(a) that a trustee is, or may be, personally liable for a breach of\ntrust, whether the transaction alleged to be a breach of trust\noccurs before or after the commencement of this Act; and\n(b) that the trustee has acted honestly and reasonably and ought\nfairly to be excused for the breach of trust, and for omitting to\nobtain the directions of the Court in the matter in which he has\ncommitted the breach,\nthe Court may relieve the trustee, either wholly or partly, from\npersonal liability for the breach of trust.\n","sortOrder":56},{"sectionNumber":"50","sectionType":"section","heading":"Power to make beneficiary indemnify for breach of trust","content":"50 Power to make beneficiary indemnify for breach of trust\n(1) Where a trustee commits a breach of trust at the instigation or\nrequest or with the consent in writing of a beneficiary, the Supreme\nCourt may, if it thinks fit, and notwithstanding that the beneficiary\nmay be a married woman entitled for her separate use and\nrestrained from anticipation, make such order as to the Court\nseems just for impounding all or any part of the interest of the\nbeneficiary in the trust estate, by way of indemnity to the trustee or\nany person claiming through him.\n(2) This section shall apply to breaches of trust committed as well\nbefore as after the commencement of this Act, but shall not apply\nso as to prejudice any question in an action or other proceeding\nwhich is pending at the commencement of this Act.\n\nProclamation in the Government Gazette 30\n50AA Cy-pres modification in certain cases\n(1) Subject to this section, where:\n(a) the Supreme Court has, under section 21A, declared a\ndisposition of property to be invalid; or\n(b) it appears to the Court that a disposition, whether made before\nor after the commencement of this section, would be invalid\nsolely on the ground that it conflicts with the rule against\nperpetuities,\nand the general intentions originally governing the disposition can\nbe ascertained, the Court shall reform the disposition so as to give\neffect as far as possible to those general intentions within the limits\npermitted under the rule against perpetuities as affected by this\nsection.\n(2) A disposition of property made before the commencement of this\nsection shall not be reformed under subsection (1):\n(a) where the disposition has been declared invalid before that\ncommencement by an order or judgment made or given in\nlegal proceedings;\n(b) where any property comprised in the disposition has, before\nthat commencement, been paid or transferred to, or applied\nfor the benefit of, or set apart for, a person entitled by reason\nof the invalidity of the disposition; or\n(c) so as to prejudice a person who has, before that\ncommencement, reasonably altered his or her position in\nreliance on the invalidity of the disposition where, in the\nopinion of the Supreme Court, having regard to all possible\nimplications in respect of other persons, it is inequitable to\nreform the disposition wholly or in part.\n(3) In hearing an application to reform a disposition under this section,\nthe Supreme Court:\n(a) may admit extrinsic evidence of the general intentions\noriginally governing the disposition and shall apply liberal rules\nof construction for the purpose of ascertaining them; and\n(b) shall have no regard to the rights of a person other than:\n(i) a person born or en ventre sa mere when the disposition\nwas made; and\n(ii) a person entitled on the death of a such person,\n\nProclamation in the Government Gazette 31\nand in reforming the disposition the Court may specify the\nperpetuity period in accordance with section 187 of the Law of\nProperty Act 2000.\n(4) An application for reformation under this section may be made by:\n(a) a trustee of property comprised in the disposition;\n(b) the settlor or the settlor's personal representative; or\n(c) a person having an interest, whether vested or contingent,\nunder the disposition or the personal representative of the\nperson to whom the interest passes.\n(5) Where a trustee of property comprised in a disposition becomes\naware that the disposition requires to be reformed under\nsubsection (1), the trustee has a duty to make an application under\nthis section.\n(6) A disposition that has been reformed under this section:\n(a) is valid notwithstanding that it would have been invalid under a\nrule of law or construction if it had been effected in any other\nway; and\n(b) shall be construed as if it had not been effected under this\nsection.\n","sortOrder":57},{"sectionNumber":"50B","sectionType":"section","heading":"Vesting orders arising from resulting trusts","content":"50B Vesting orders arising from resulting trusts\n(1) Where the Supreme Court has refused to reform a disposition\nunder section 50A, it may, if satisfied that the person who made the\ndisposition, or his or her personal representative, has become\nentitled under a resulting trust, make an order vesting the property\ncomprised in the disposition absolutely in the person or, if the\nperson has died, in his or her personal representative on the trusts\nof the estate of the deceased person.\n(2) In the case of a disposition referred to in subsection (1), where a\nperson other than a donor of property given to the trustee on trust,\nhas sold other property to the trustee, or has assisted the trustee,\nby loan, guarantee or otherwise, to acquire other property:\n(a) the power of the Supreme Court to make a vesting order\nunder that subsection is restricted to so much of the property\ncomprised in the disposition as was given by the donor or\nfairly attributable to the donor's gift; and\n(b) the Court may make such order as it thinks fit regarding the\nremainder of property comprised in the disposition.\n\nProclamation in the Government Gazette 32\n(3) An application for a vesting order under this section in respect of\nproperty comprised in a disposition may be made by:\n(a) a trustee of the property;\n(b) a vendor of the property to the trustee or the personal\nrepresentative of such a vendor; or\n(c) a person who assisted the trustee, by loan, guarantee or\notherwise, to acquire the property, or the personal\nrepresentative of the person.\n","sortOrder":58},{"sectionNumber":"50A","sectionType":"section","heading":"Power of Court to authorize dealings with trust property","content":"50A Power of Court to authorize dealings with trust property\n(1) The Court may by order, on application by the trustee or a\nbeneficiary, authorize a trustee either generally or in a particular\ncase:\n(a) to execute a sale, lease, mortgage, surrender, release or other\ndisposition;\n(b) to make a purchase, acquisition, or investment; or\n(c) to undertake expenditure,\nas the Court thinks fit and for which the trustee has no power under\nthe trust instrument or a law in force in the Territory.\n(2) The Court may make an order referred to in subsection (1) subject\nto such terms or conditions as it thinks fit and may direct whether\nand how any expenditure or costs are to be paid out of capital or\nincome of the trust.\n(3) The Court may make an order referred to subsection (1) in relation\nto property despite that the property is the subject of a life interest\nin the whole of the property or any estate or interest in the property.\n(4) An application to the Court for an order relating to property referred\nto in subsection (3) is to be made with the consent of all persons\nhaving a beneficial interest in the property, and all trustees having\nan estate or interest on behalf of an unborn child.\n(5) Despite subsection (4) the Court may dispense with the\nrequirement for consent of a person if that person has been served\nwith a notice that the application will be made, and the person has\nmade no response.\n(6) A person who has been served with a notice that the application will\nbe made may appear in Court to consent or dissent to the making\nof the order sought.\n\nPart IV Special provisions as to appointment of new trustees\nProclamation in the Government Gazette 33\n(7) The Court may make an order in relation to the property despite\ndissent by some interested parties.\n(8) In deciding whether to make an order despite the dissent of some\nparties the Court must have regard to the number and interests of\nthe parties.\n(9) If the property to which the order relates is land, the order is to be\nproduced to the Registrar-General who must give effect to the order\nby registering any transfer, lease or other document effected\npursuant to the order on the land register under the Land Title\nAct 2000.\nPart IV Special provisions as to appointment of new\ntrustees\n","sortOrder":59},{"sectionNumber":"51","sectionType":"section","heading":"This part to be permissive","content":"51 This part to be permissive\nThis part of this Act is permissive only, and trustees may be\nappointed and trust estates may be transferred, conveyed, and\nassigned as if this part of this Act had not been passed.\n","sortOrder":60},{"sectionNumber":"52","sectionType":"section","heading":"Application of this part","content":"52 Application of this part\nThis part of this Act shall not apply to trust estates held upon any\ntrust created by an instrument expressly forbidding the application\nof this part of this Act; but, except as provided by this section, this\npart of this Act shall apply to all trust estates.\n","sortOrder":61},{"sectionNumber":"53","sectionType":"section","heading":"Interpretation","content":"53 Interpretation\nIn the interpretation of this Part of this Act the following words shall\nhave the following meanings:\ntrust estates shall include real and personal estate of every\ndescription held upon trust.\nappointment of new trustees shall include every appointment of\nnew trustees, and whether such new trustees are to act solely or\njointly with any old trustees.\n","sortOrder":62},{"sectionNumber":"54","sectionType":"section","heading":"Form of appointment of new trustee","content":"54 Form of appointment of new trustee\nAny appointment of new trustees, if signed by the persons entitled\nto exercise the power of appointment and by the new trustees, and\nattested in manner prescribed by the Land Title Act 2000 for the\nattestation of instruments, and made in the form or to the effect\ncontained in the Third Schedule hereto, or as near thereto as\ncircumstances will permit, shall be sufficient and valid and effectual\n\nPart IV Special provisions as to appointment of new trustees\nProclamation in the Government Gazette 34\nto all intents and purposes, so far as regards the form and mode of\nexecution and attestation thereof.\n","sortOrder":63},{"sectionNumber":"55","sectionType":"section","heading":"Extension of power of appointing new trustees","content":"55 Extension of power of appointing new trustees\nAny power of appointing new trustees vested in any persons within\nthe Territory, jointly with any persons absent therefrom, and who\nshall have been continuously absent therefrom for at least one year\nthen immediately preceding, may be exercised by such first-\nmentioned persons solely as if such power were exclusively vested\nin them, and such power shall extend to authorize the appointment\nof new trustees in the places of any trustees absent from the\nTerritory, and having been continuously absent therefrom as\naforesaid, and such trustees on any appointment of new trustees in\ntheir places shall cease to be trustees.\n","sortOrder":64},{"sectionNumber":"56","sectionType":"section","heading":"Appointment of new trustees may be registered","content":"56 Appointment of new trustees may be registered\nOn any appointment of new trustees, a memorandum of such\nappointment may be registered by the Registrar-General.\n","sortOrder":65},{"sectionNumber":"57","sectionType":"section","heading":"Registration to vest estates in new trustees","content":"57 Registration to vest estates in new trustees\nOn the registration of any memorandum of the appointment of new\ntrustees, such trustees shall be deemed to be duly appointed, and\nthe trust estates held upon the trusts to which such new trustees\nare appointed shall, without any conveyance, transfer, or\nassignment, vest in the new trustees, either solely or jointly with the\nold trustees, as the case may require, for all the estate and interest\nof the old trustees therein, subject to the trusts affecting such trust\nestates then subsisting, and capable of taking effect.\n","sortOrder":66},{"sectionNumber":"59","sectionType":"section","heading":"Registration with power of disposition to lesser number of","content":"59 Registration with power of disposition to lesser number of\njoint owners\nWhenever any land is brought or dealt with under the provisions of\nthe Land Title Act 2000, the application or instrument affecting the\nsame may require the registration consequent thereon, if in favour\nof 2 or more persons, to be made with the addition of the words\n\"with power of disposition to any\" less number of \"registered\nproprietors\" to be specified in such application or instrument, and\nthereupon the Registrar-General shall include in the registration the\nwords desired, and thereafter, whilst such registration shall\ncontinue, the number of registered proprietors so specified whilst\nregistered with others as joint owners may deal with and dispose of\nthe registered estate or interest as if they were registered as sole\nproprietors thereof.\n\nProclamation in the Government Gazette 35\n","sortOrder":67},{"sectionNumber":"60","sectionType":"section","heading":"Form of memorandum of appointment of new trustee","content":"60 Form of memorandum of appointment of new trustee\nA memorandum of the appointment of a new trustee for registration\nunder this Act shall be in the form prescribed under the Land Title\nAct 2000 for the registration of the appointment of a new trustee\nand shall satisfy the requirements of that Act in respect of that form.\n","sortOrder":68},{"sectionNumber":"63","sectionType":"section","heading":"Preservation of powers of Registrar-General","content":"63 Preservation of powers of Registrar-General\nNothing in this part of this Act contained, or thereby implied or to be\ndone in pursuance thereof, shall be construed to affect the title of\nany registered proprietor with notice of any trust, or otherwise to\nlimit the right of any registered proprietor to deal with the estate or\ninterest of which he is registered proprietor for all the purposes of\nthe Land Title Act 2000, as absolute owner, or to defeat, limit, or\nprejudice any power or discretion vested in the Registrar-General\nunder the Land Title Act 2000, but all such powers and discretions\nmay be exercised by the Registrar-General with reference to\nproceedings under this Act; and for the purpose of such\nproceedings this part of this Act shall be incorporated with the Land\nTitle Act 2000, and all persons shall be subject to the provisions\nthereof.\n","sortOrder":69},{"sectionNumber":"64","sectionType":"section","heading":"Preservation of liability of trustee","content":"64 Preservation of liability of trustee\nNothing in this Part of this Act contained, or thereby implied or to be\ndone in pursuance thereof, shall release any trustee from any\nliability for any breach of trust.\n","sortOrder":70},{"sectionNumber":"66","sectionType":"section","heading":"Commission concerning person of unsound mind","content":"66 Commission concerning person of unsound mind\nUpon any petition being presented under this Act to the Supreme\nCourt concerning a person of unsound mind, the Court may direct a\ncommission in the nature of a writ de lunatico inquirendo to issue as\nto such person, and may postpone making an order on such\npetition until after the return to the commission.\n","sortOrder":71},{"sectionNumber":"67","sectionType":"section","heading":"Provisions of Act in addition to unrepealed acts","content":"67 Provisions of Act in addition to unrepealed acts\nThe provisions of this Act are in addition to those of any enactment\nnot hereby repealed.\n","sortOrder":72},{"sectionNumber":"68","sectionType":"section","heading":"Application to trustee under settled estates Act of provisions","content":"68 Application to trustee under settled estates Act of provisions\nas to appointment of trustees\n(1) All the powers and provisions contained in this Act with reference to\nthe appointment of new trustees, and the discharge and retirement\n\nProclamation in the Government Gazette 36\nof trustees, are to apply to and include trustees for the purposes of\n\"The Settled Estates Act, 1880,\" whether occurring before or after\nthe repeal of that Act by the Law of Property Act 2000.\n(2) This section applies and is to have effect with respect to an\nappointment or a discharge and retirement of trustees taking place\nbefore as well as after the commencement of this Act.\n(3) This section is not to render invalid or prejudice any appointment or\nany discharge and retirement of trustees effected before the\npassing of this Act.\n","sortOrder":73},{"sectionNumber":"69","sectionType":"section","heading":"Settled estates","content":"69 Settled estates\n(1) For the purposes of this section:\n(a) \"settled land to which The Settled Estates Act 1880 applied\"\nmeans all hereditaments of any tenure, and all estates or\ninterests in any such hereditaments that are the subject of a\nsettlement; and\n(b) \"settlement\" means an Act of Parliament, deed, agreement,\nwill or other instrument, or any number of such instruments,\nunder or by virtue of which any hereditaments of any tenure or\nany estates or interests in any such hereditaments stand\nlimited to or in trust for any persons by way of succession,\nincluding any such instruments affecting the estates of any\none or more of such persons exclusively.\n(2) If there is settled land to which The Settled Estates Act 1880\napplied in the Territory, on the commencement of this section:\n(a) if the land is settled on trust – the provisions of this Act apply\nto the trustee or trustees;\n(b) if the land is not held on trust – the tenant for life is to be taken\nto be a trustee and the provisions of this Act apply\naccordingly;\n(c) a future interest in the land takes effect as an equitable, not a\nlegal, interest; and\n(d) a person who holds an equitable interest in the land, whether\nby virtue of paragraph (c) or otherwise, is to be taken to be a\nbeneficiary for the purposes of this Act.\n","sortOrder":74},{"sectionNumber":"73","sectionType":"section","heading":"Power of Court to sell interest of Crown in real estate","content":"73 Power of Court to sell interest of Crown in real estate\n(1) Where in any proceeding, ex parte or otherwise, it appears to the\nSupreme Court that the Crown is entitled to any hereditament,\n\nProclamation in the Government Gazette 37\ncorporeal or incorporeal, or to any estate, legal or equitable,\ntherein, the Court may, on the application or with the consent of the\nMinister, notwithstanding that no office has been found and no\ncommission issued, order a sale of the hereditament, estate, or\ninterest; and the net proceeds of such sale, or such portion thereof\nas represents the interest of the Crown, shall be paid into the\nNorthern Territory Government Account.\n(2) The Supreme Court on any such sale may make an order vesting\nthe hereditament, estate or interest in the purchaser or requiring the\nperson in whom it is vested or deemed to be vested to convey it to\nthe purchaser.\n(3) A person who claims to be entitled to any moneys paid into the\nNorthern Territory Government Account under this section may\napply to the Court for an order declaring him to be so entitled and, if\nthe Court is satisfied that the applicant is entitled to those moneys\nor a part of those moneys, it may make an order accordingly.\n(4) Upon receipt by the Minister of an office copy of an order under\nsubsection (3), the Minister shall authorize payment to the person in\nwhose favour the order was made the amount specified in the order\nout of moneys lawfully available for the purpose.\n","sortOrder":75},{"sectionNumber":"75","sectionType":"section","heading":"Definition of intestacy","content":"75 Definition of intestacy\nWhere any beneficial interest in real estate or land of a deceased\nperson, whether the estate or interest of such deceased person\ntherein was legal or equitable, is owing to the failure of the objects\nof the devise or other circumstances happening before or after the\ndeath of such person in whole or in part not effectually disposed of,\nsuch person shall be deemed for the purposes of this part of this\nAct to have died intestate in respect of such part of the said\nbeneficial interest as if ineffectually disposed of.\n","sortOrder":76},{"sectionNumber":"78","sectionType":"section","heading":"Trustee's remuneration","content":"78 Trustee's remuneration\nThe Court may allow to a trustee out of the trust property, for his\npains and trouble, either periodically or otherwise, such commission\nor other remuneration, not exceeding 5%, as it thinks just and\nreasonable.\n","sortOrder":77},{"sectionNumber":"80","sectionType":"section","heading":"Indemnity","content":"80 Indemnity\nThis Act, and every order purporting to be made under this Act,\nshall be a complete indemnity to all companies and persons for any\nacts done pursuant thereto; and it shall not be necessary for any\ncompany or person to inquire concerning the propriety of the order,\nor whether the Court by which it was made had jurisdiction to make\nthe same.\n\nProclamation in the Government Gazette 38\n","sortOrder":78},{"sectionNumber":"81","sectionType":"section","heading":"Act to apply to Land Title Act 2000","content":"81 Act to apply to Land Title Act 2000\nNotwithstanding the provisions of the Land Title Act 2000 this Act\nshall apply to land subject to the provisions of such Act, but only to\nthe extent necessary for carrying out the purposes of this Act.\n","sortOrder":79},{"sectionNumber":"82","sectionType":"section","heading":"Definitions","content":"82 Definitions\nIn this Act (except as to Part IV), unless the context otherwise\nrequires:\nThe expression bank means an ADI that is permitted under the\nBanking Act 1959 of the Commonwealth to assume or use:\n(a) the word bank, banker or banking; or\n(b) any other word (whether or not in English) that is of like import\nto a word referred to in paragraph (a).\nThe expression contingent right as applied to land, includes a\ncontingent or executory interest, a possibility coupled with an\ninterest, whether the object of the gift or limitation of the interest or\npossibility is or is not ascertained; also a right of entry, whether\nimmediate or future, and whether vested or contingent.\nThe expressions convey and conveyance applied to any person\ninclude the execution by that person of every necessary or suitable\ntransfer or assurance for conveying, assigning, appointing,\nsurrendering, or otherwise transferring or disposing of land to which\nhe is entitled or of which he is seised or possessed, or wherein he\nis entitled to a contingent right, either for his whole estate or for any\nless estate, together with the performance of all formalities or acts\nrequired by law under the Land Title Act 2000 or otherwise for the\nvalidity or completion of the conveyance, including the acts to be\nperformed by married women and tenants in tail for perfect\nconveyance and assurance under the Acts for the time being in\nforce in that behalf.\nThe expression devisee includes the heir of a devisee and the\ndevisee of an heir, and any person who may claim right by\ndevolution of title of a similar description.\nThe expression disposition includes:\n(a) the conferring or exercising of a power of appointment or any\nother power or authority to dispose of property; and\n(b) an alienation of property.\nThe expression instrument includes Act of Parliament.\n\nProclamation in the Government Gazette 39\nThe expression land includes incorporeal as well as corporeal\nhereditaments, and any estate or interest therein, and also an\nundivided share of land.\nThe expression lunatic means any person who shall have been\nfound to be a lunatic upon inquiry by the Supreme Court, or upon a\ncommission of inquiry issuing out of the Supreme Court in the\nnature of a writ of de lunatico inquirendo.\nThe expressions mortgage and mortgagee include and relate to\nevery estate and interest regarded in equity as merely a security for\nmoney, and every person deriving title under the original\nmortgagee.\nThe expressions pay and payment\" as applied in relation to stocks\nand securities, and in connection with the expression into Court,\ninclude the deposit or transfer of the same in or into Court.\nThe expression person of unsound mind means any person, not\nan infant who, not having been found to be a lunatic, shall be\nincapable from infirmity of mind of managing his own affairs.\nThe expression possessed applies to receipt of income of and to\nany vested estate less than a life estate, legal or equitable, in\npossession or in expectancy, in, any land.\nThe expression property includes real and personal property, and\nany estate and interest in any property, real or personal, and any\ndebt, and any thing in action, and any other right or interest,\nwhether in possession or not.\nThe expression representative means an executor or\nadministrator, and includes the Public Trustee, where he or she is\nadministering the estate of a deceased person under section 35 of\nthe Public Trustee Act 1979 in cases where the Supreme Court\nshall have authorized him to administer the estate of a deceased\nperson.\nThe expression securities includes stocks, funds, and shares.\nThe expression stock includes fully paid up shares, and, so far as\nrelates to vesting orders made by the Court under this Act, includes\nany fund, annuity, or security transferable in books kept by any\ncompany or society, or by instrument of transfer either alone or\naccompanied by other formalities, and any share or interest therein.\nThe expression Supreme Court includes a Judge of the Supreme\nCourt.\n\nProclamation in the Government Gazette 40\nThe expression transfer in relation to stock, includes the\nperformance and execution of every deed, power of attorney, act,\nand thing on the part of the transferor to effect and complete the\ntitle in the transferee.\nThe expression trust does not include the duties incident to an\nestate conveyed by way of mortgage, or to the estate or interest of\na mortgagee under the Land Title Act 2000, but with these\nexceptions the expressions trust and trustee include implied and\nconstructive trusts, and cases where the trustee has a beneficial\ninterest in the trust property, and the duties incident to the office of\nrepresentative of a deceased person: and the expression \"trustee\"\nincludes a representative of a deceased person.\nvaluer has the same meaning as in the Valuation of Land Act 1963.\n\nFirst Schedul\nProclamation in the Government Gazette 41\nSchedules\nFirst Schedule\nNo. of Act Title Extent of Repeal\nNo. 7 of 1855-6 The Trustee Act, 1855 Sections 2 to 47\ninclusive\nNo. 6 of 1860 The Property Act of 1860 Sections 24 to 30\ninclusive\nNo. 7 of 1862 An Act to give to Trustees,\nMortgagees, and others,\ncertain powers now commonly\ninserted in Settlements,\nMortgages, and Wills\nSections 1 to 9\ninclusive, sections 23\nto 31 inclusive\nNo. 14 of 1866-7 The Limitations of Suits and\nActions Act, 1866\nNo. 523 of 1891 The Trustees Appointment\nAct 1891\nThe whole\n\nProclamation in the Government Gazette 42\nSouth Australian Government Securities\nNo. [Royal Arms] No.\n(Authorized by \"The Trustee Act, 1893.\")\nI, the Treasurer of the Province of South Australia, in consideration of\nthe sum of dollars, paid to me for public purposes by do\nhereby bind myself to pay to the holder for the time being of this bond the sum\nof dollars and interest thereon at the rate of 4% per annum; such interest\nto be payable on 1 April and 1 October in every year, and the principal to be\npaid on the first day of , in the year one thousand nine hundred and .\nSealed with my seal. Dated the day of one thousand\neight hundred and .\nSigned, sealed, and delivered in )\nthe presence of )\n[Bond transferable by delivery .]\n\nProclamation in the Government Gazette 43\nAppointment of New Trustees\nPursuant to Part IV of \"The Trustee Act, 1893,\" we [here set out\nnames, addresses, and occupations], being persons entitled to exercise and\nexercising the power of appointing new trustees of the trust hereinafter\nreferred to, do hereby appoint [here set out names, addresses and\noccupations of new trustees], to be new trustees (here if necessary insert\njointly with) [here insert names, addresses, and occupations of the old\ncontinuing trustees] of the trust constituted under [here set out shortly\nparticulars of the instrument creating the trust, including date, and name of\nperson by whom trust was created], and we the said [here insert names of\nnew trustees] do hereby accept the said trusteeship.\nDated this day of , 18 .\n[To be signed by the persons exercising the power\nof appointment, and by the new trustees, and to be attested.]\n\nProclamation in the Government Gazette 44\nAn Act to amend \"The Trustee Act, 1893.\"\n1 Short title and application\n(1) This Act may be cited as \"The Trustee Act, 1907,\" and shall be\nincorporated with \"The Trustee Act, 1893,\" and the 2 Acts may be\ncited together as \"The Trustee Acts, 1893 and 1907.\"\n(2) This Act, except sections 2, 6, and 7, applies only to trusts created\nafter the passing of this Act.\nInvestments\n2 Power to take mortgage for part purchase-money\nA trustee on the sale of trust property may leave unpaid purchase-\nmoney thereof invested upon the security of the property sold to the\nextent to which, were the trustee not the vendor thereof, such\nproperty would be a proper security for the investment of the trust\nfunds.\nVarious powers and liabilities\n3 Trustee's power of delegation\n(1) A trustee who, for the time being, is or is about to be absent from\nSouth Australia may, if not expressly prohibited by the instrument\ncreating the trust, with the consent of his co-trustee (if any), by\npower of attorney, under seal, delegate, for a term not exceeding\n12 calendar months from the date of such power of attorney, to any\nperson or persons residing in South Australia, all or any of the\npowers, authorities, and discretions vested in such trustee.\n(2) Every deed, act, matter, and thing executed, done, and performed\nby such attorney or attorneys shall be as valid and effectual as if\nexecuted, done, and performed by the trustee.\n(3) A trustee appointing any attorney or attorneys as aforesaid shall be\nliable for the acts and defaults of every such attorney as if they\nwere his own acts and defaults.\n(4) Nothing in this section shall be deemed to limit or affect any power\nof appointing a new trustee in the place of a trustee absent from\nSouth Australia, or the power of the Supreme Court to make any\norder by reason of such absence.\n\nProclamation in the Government Gazette 45\n4 Revocation of power of attorney not effectual as against\nperson in ignorance\nNo revocation of any such power of attorney, including any\nrevocation or avoidance by operation of law, shall be effectual as\nagainst any person dealing in good faith with such attorney in\nignorance of such revocation.\n5 Trustees bank account\n(1) Trustees, unless prohibited by the instrument creating the trust,\nand, if expressly authorized by the power of attorney so to do, their\nattorneys, appointed under section 3 of this Act, may, by writing\nsigned by them, authorize any bank to honor cheques, bills,\npromissory notes, and drafts drawn upon or made payable out of\nthe banking account of the trust by any one or more of such\ntrustees or attorneys, and to honor the indorsement of any one or\nmore of such trustees or attorneys upon any cheque, bill,\npromissory note, or draft payable to the order of the trustees, and\nalso to pay to any one or more of such trustees or attorneys,\nwhether before or after maturity, all or any portion of any moneys\ndeposited on fixed deposit.\n(2) Every trustee who, in person or by attorney, gives or joins in giving\nany such authority shall be liable for the acts and defaults of every\ntrustee or attorney acting thereunder as if they were his own acts\nand defaults.\n(3) No revocation of any such authority, including any revocation or\navoidance by operation of law, shall be effectual as against any\nbanker acting or paying money in good faith under or in pursuance\nof such authority in ignorance of such revocation.\n6 Trustee may sell land with consent of Court\nWith the consent of the Court, and notwithstanding anything\ncontained in Act No. 10 of 1847, or any reservation or proviso\ncontained in the land grants of land granted for ecclesiastical\npurposes to be held in conformity with the said Act, the trustees in\nwhom the legal estate of such land shall be vested shall have\npower to sell the land.\nPowers of the Court\n7 Power for Court to authorize purchase of trust property by\ntrustee\nWhere there is a trust for sale or power of sale the Supreme Court\nmay, on the application, ex parte or otherwise, of a trustee, or of a\n\nProclamation in the Government Gazette 46\nbeneficiary interested in the trust property, or of the Public Trustee,\nor a next friend on behalf of such a beneficiary not sui juris, upon\nbeing satisfied that such sale will be advantageous to the\nbeneficiaries, authorize a sale of trust property by a trustee to\nhimself, unless such sale be expressly prohibited by the instrument\n8 Accounts to be filed by trustees when required\nEvery executor and trustee shall, if so required by and at the cost of\nany beneficiary requiring the same, file annually in the Supreme\nCourt an account of his administration of the testator's estate; and\nthe Public Trustee shall, on the request of a majority or of half of the\nbeneficiaries and at their cost, audit the accounts so filed.\n\nProclamation in the Government Gazette 47\n1 KEY\nKey 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\nPART I – ACTS OF THE STATE OF SOUTH AUSTRALIA\nThe Trustee Act, 1893 (Act No. 586, 1893)\nAssent date 23 December 1893\nCommenced 14 February 1894\nThe Trustee Act, 1907 (Act No. 944, 1907)\nAssent date 21 December 1907\nCommenced 21 December 1907\nPART II – ORDINANCES AND ACTS OF THE NORTHERN\nTERRITORY\nTrustee Ordinance 1969 (Act No. 56, 1969)\nAssent date 10 December 1969\nCommenced 10 December 1969\nTrustee Ordinance 1972 (Act No. 41, 1972)\nAssent date 31 July 1972\nCommenced 31 July 1972\nTrustee Ordinance (No. 2) 1972 (Act No. 69, 1972)\nAssent date 5 December 1972\nCommenced 5 December 1972\n\nProclamation in the Government Gazette 48\nOrdinances Revision Ordinance 1973 (Act No. 87, 1973)\nAssent date 11 December 1973\nCommenced 11 December 1973 (s 12(2))\nAmending Legislation\nOrdinances Revision Ordinance 1974 (Act No. 34, 1974)\nAssent date 26 August 1974\nCommenced 11 December 1973 (s 3(2))\nOrdinances Revision Ordinance (No. 2) 1974 (Act No. 69, 1974)\nAssent date 24 October 1974\nCommenced 11 December 1973 (s 3)\nOrdinances Revision Ordinance 1976 (Act No. 27, 1976)\nAssent date 28 June 1976\nCommenced ss 1, 2 and 6: 28 June 1976 (s 6(2));\nss 3 and 4: 11 December 1973; s 5: 24 October 1974\nTrustee Ordinance 1976 (Act No. 58, 1976)\nAssent date 12 November 1976\nCommenced 25 February 1977 (Gaz No. 8A, 25 February 1977, p 327)\nTransfer of Powers (Further Provisions) Ordinance 1977 (Act No. 51, 1977)\nAssent date 9 December 1977\nCommenced 1 January 1978 (s 2)\nTransfer of Powers (Self-Government) Ordinance 1978 (Act No. 54, 1978)\nAssent date 1 July 1978\nCommenced 1 July 1978 (s 8)\nStatute Law Revision Act (No. 2) 1978 (Act No. 19, 1979)\nAssent date 2 February 1979\nCommenced 2 February 1979\nTrustee Act 1979 (Act No. 99, 1979)\nAssent date 10 August 1979\nCommenced 10 August 1979\nTrustee Amendment Act 1981 (Act No. 57, 1981)\nAssent date 14 July 1981\nCommenced s 5(a): 1 January 1981; rem: 28 August 1981 (Gaz G34,\n28 August 1981, p 9)\nCompanies and Securities (Consequential Amendments) Act 1986 (Act No. 18, 1986)\nAssent date 30 June 1986\nCommenced 1 July 1986 (s 2)\nTrustee Amendment Act 1988 (Act No. 59, 1988)\nAssent date 15 December 1988\nCommenced 1 January 1989 (Gaz S79, 30 December 1988)\nMarried Persons (Equality of Status) Act 1989 (Act No. 76, 1989)\nAssent date 12 December 1989\nCommenced 12 December 1989\n\nProclamation in the Government Gazette 49\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 Amendment Act 1991 (Act No. 69, 1991)\nAssent date 4 December 1991\nCommenced 16 December 1991 (Gaz S63, 16 December 1991)\nFinancial Institutions (NT) (Consequential Amendments) Act 1992 (Act No. 23, 1992)\nAssent date 2 June 1992\nCommenced 1 July 1992 (s 2, s 2 Financial Institutions (NT) Act 1992 (Act\nNo. 22, 1992) and Gaz S35, 30 June 1992)\nPastoral Land (Consequential Amendments) Act 1992 (Act No. 39, 1992)\nAssent date 25 June 1992\nCommenced 26 June 1992 (s 2, s 2 Pastoral Land Act 1992 (Act No. 17,\n1992) and Gaz S33, 26 June 1992)\nTrustee Amendment Act 1992 (Act No. 72, 1992)\nAssent date 14 December 1992\nCommenced 14 December 1992\nTrustee Amendment Act 1994 (Act No. 9, 1994)\nAssent date 16 March 1994\nCommenced 16 March 1994\nTrustee Amendment Act (No. 2) 1994 (Act No. 36, 1994)\nAssent date 18 May 1994\nCommenced 1 August 1994 (s 2, s 2 Perpetuities Act 1994 (Act No. 31,\n1994) and Gaz G29, 20 July 1994, p 3))\nAmending Legislation\nStatute Law Revision Act 1994 (Act No. 50, 1994)\nAssent date 20 September 1994\nCommenced 20 September 1994\nStatute Law Revision Act 1994 (Act No. 50, 1994)\nAssent date 20 September 1994\nCommenced 20 September 1994\nTrustee Amendment Act 1995 (Act No. 13, 1995)\nAssent date 26 June 1995\nCommenced 26 June 1995\nTrustee Amendment Act (No. 2) 1995 (Act No. 60, 1995)\nAssent date 28 December 1995\nCommenced 26 February 1996 (Gaz G7, 14 February 1996, p 2)\n\nProclamation in the Government Gazette 50\nSentencing (Consequential Amendments) Act 1996 (Act No. 17, 1996)\nAssent date 19 April 1996\nCommenced 1 July 1996 (s 2, s 2 Sentencing Act 1995 (Act No. 39, 1995)\nand Gaz S15, 13 June 1996)\nStatute Law Revision Act (No. 2) 1998 (Act No. 92, 1998)\nAssent date 11 December 1998\nCommenced ss 7 and 11: 13 January 1999; ss 6 and 15: 10 March 1999;\ns 3: 1 April 1999; s 25: 20 September 1999;\nrem: 11 December 1998 (s 2, Gaz G1, 13 January 1999, p 6,\nGaz G9, 10 March 1999, p 2 and Gaz S15, 1 April 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)\nLaw of Property (Consequential Amendments) Act 2000 (Act No. 46, 2000)\nAssent date 12 September 2000\nCommenced 1 December 2000 (s 2, s 2 Law of Property Act 2000 (Act\nNo. 1, 2000) and Gaz G38, 27 September 2000, p 2)\nStatute Law Revision (Financial Provisions) Act 2002 (Act No. 38, 2002)\nAssent date 13 September 2002\nCommenced 30 October 2002 (Gaz G43, 30 October 2002, p 3)\nLegal Profession (Consequential Amendments) Act 2007 (Act No. 7, 2007)\nAssent date 17 May 2007\nCommenced s 10: 1 July 2007 (Gaz G26, 27 June 2007, p 3);\nrem: 17 May 2007\nLocal Court (Related Amendments) Act 2016 (Act No. 8, 2016)\nAssent date 6 April 2016\nCommenced 1 May 2016 (s 2, s 2 Local Court (Repeals and Related\nAmendments) Act 2016 (Act No. 9, 2016) and Gaz S34,\n29 April 2016)\nSupreme Court Amendment (Associate Judges) Act 2017 (Act No. 18, 2017)\nAssent date 5 September 2017\nCommenced 22 November 2017 (Gaz S84, 21 November 2017, p 1)\n3 SAVINGS AND TRANSITIONAL PROVISIONS\ns 10 Trustee Ordinance 1969 (Act No. 56, 1969)\ns 6 Trustee Ordinance 1972 (Act No. 41, 1972)\ns 8 Trustee Ordinance 1976 (Act No. 58, 1976)\ns 4 Trustee Amendment Act 1981 (Act No. 57, 1981)\n4 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 Ordinances Revision\nOrdinance 1973 (Act No. 87, 1973) (as amended) to the following provisions:\nss 4, 11, 12, 14, 21, 22, 23, 24, 28, 31, 37, 59, 61, 78, 82 and Second Sch.\n\nProclamation in the Government Gazette 51\n5 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, 13, 50AA, 50A, 54, 59, 60,\n63, 68, 81 and 82.\n6 LIST OF AMENDMENTS\ns 3A ins No. 99, 1979, s 3\nrep No. 60, 1995, s 4\npt I hdg sub No. 60, 1995, s 5\ns 4 rep No. 41, 1972, s 2\nins No. 41, 1972, s 3\namd No. 69, 1972, s 3; No. 87, 1973, s 12; No. 58, 1976, s 4; No. 54, 1978,\ns 5; No. 19, 1979, s 29; No. 99, 1979, s 4; No. 57, 1981, s 5; No. 18, 1986,\ns 3; No. 59, 1988, s 4; No. 59, 1990, s 4; No. 69, 1991, s 4; No. 23, 1992, s 4;\nNo. 39, 1992, s 3; No. 72, 1992, s 2; No. 9, 1994, s 2; No. 13, 1995, s 2\ns 4A ins No. 41, 1972, s 3\namd No. 87, 1973, s 12; No. 58, 1976, s 5\ns 4B ins No. 58, 1976, s 6\namd No. 54, 1978, s 5; No. 23, 1992, s 4; No. 9, 1994, s 3\ns 4C ins No. 57, 1981, s 6\namd No. 59, 1988, s 6\ns 5 sub No. 60, 1995, s 5\nss 6 – 8 rep No. 41, 1972, s 4\nins No. 58, 1976, s 7\ns 9 amd No. 99, 1979, s 5\ns 10 sub No. 60, 1995, s 5\nss 10A – 10B ins No. 60, 1995, s 5\ns 10C ins No. 60, 1995, s 5\namd No. 92, 1998, s 24\nss 10D – 10G ins No. 60, 1995, s 5\ns 11 amd No. 72, 1992, s 8\ns 13 amd No. 45, 2000, s 9\ns 16 rep No. 16, 1989, s 7\ns 17 amd No. 38, 2002, s 6; No. 7, 2007, s 16\ns 18 amd No. 59, 1988, s 7; No. 46, 2000, s 11\ns 18A ins No. 46, 2000, s 11\ns 21 amd No. 56, 1969, s 3\ns 21A ins No. 36, 1994, s 4\ns 22 amd No. 56, 1969, s 4; No. 18, 2017, s 36\ns 24A ins No. 57, 1981, s 7\ns 27 amd No. 17, 1996, s 6; No. 8, 2016, s 45\nss 45 – 46 rep No. 50, 1994, s 16\ns 48 amd No. 72, 1992, s 8\ns 49 amd No. 46, 2000, s 11\ns 49A ins No. 57, 1981, s 8\ns 50AA ins No. 36, 1994, s 5\namd No. 46, 2000, s 11\ns 50B ins No. 36, 1994, s 5\n\nProclamation in the Government Gazette 52\ns 50A ins No. 59, 1988, s 8\namd No. 46, 2000, s 11\nss 53 – 54 amd No. 45, 2000, s 9\ns 55 amd No. 72, 1992, s 8\ns 56 amd No. 72, 1992, s 3\ns 57 amd No. 33, 1991, s 7; No. 72, 1992, s 4\ns 58 amd No. 33, 1991, s 7\nrep No. 72, 1992, s 5\ns 59 amd No. 45, 2000, s 9\ns 60 sub No. 72, 1992, s 6\namd No. 45, 2000, s 9\nss 61 – 62 rep No. 72, 1992, s 6\ns 63 amd No. 45, 2000, s 9\ns 65 rep No. 50, 1994, s 16\ns 68 amd No. 46, 2000, s 11\ns 69 rep No. 76, 1989, s 7\nins No. 46, 2000, s 11\ns 70 rep No. 56, 1969, s 5\ns 71 rep No. 50, 1994, s 16\ns 72 rep No. 56, 1969, s 5\ns 73 amd No. 56, 1969, s 6; No. 51, 1977, s 3; No. 54, 1978, s 5; No. 19, 1979,\ns 29\ns 74 rep No. 56, 1969, s 7\ns 76 amd No. 33, 1991, s 7\nrep No. 45, 2000, s 9\ns 77 rep No. 50, 1994, s 16\ns 78 sub No. 56, 1969, s 8\namd No. 41, 1972, s 5\ns 79 rep No. 50, 1994, s 16\ns 81 amd No. 45, 2000, s 9\ns 82 amd No. 56, 1969, s 9; No. 57, 1981, s 9; No. 36, 1994, s 6; No. 92, 1998,\ns 24; No. 45, 2000, s 9; No. 38, 2002, s 6\nsch 2 rep No. 92, 1998, s 24\nsch 4 – 5 rep No. 72, 1992, s 7","sortOrder":80}],"analysis":{"kimi_summary":{"_metrics":{"provider":"moonshot","completionTokens":3199},"content_quality":"ok","complexity_score":7,"scope_assessment":{"changed":true,"description":"Originally enacted in 1893 as a straightforward consolidation of trustees' administrative powers, the legislation has expanded significantly beyond its original scope. Modern amendments (particularly in 1994-1995) transformed it from a simple management code into an active trust modification framework. It now includes: modern portfolio investment theory allowing diversified investment strategies (Part I); cy-pres powers to rewrite trusts that breach the rule against perpetuities (s 50AA); specific powers to purchase residential property for beneficiaries (s 10A); and extensive court powers to authorise dealings outside the trust instrument (s 50A). The Act has shifted from merely administering static 19th-century settlements to actively managing and restructuring modern trust arrangements."},"complexity_factors":["**Historical layering**: The Act originated in South Australia in 1893 and was adopted by the Northern Territory, then heavily amended over 100+ years (notably in 1995 for investments and 1994 for perpetuities), creating a patchwork of 19th-century structure with modern commercial rules.","**Dense interpretation section**: Section 82 contains approximately 20 defined legal terms (e.g., 'contingent right', 'choses in action', 'en ventre sa mere' — unborn children) that are essential to understanding the operative provisions.","**Extensive cross-referencing**: The Act constantly refers to other legislation including the *Land Title Act 2000* (NT), *Law of Property Act 2000* (NT), *Banking Act 1959* (Cth), and *Public Trustee Act 1979* (NT), requiring readers to consult multiple statutes.","**Conditional logic and exceptions**: Many sections are heavily qualified with 'subject to', 'provided that', 'notwithstanding', and 'unless' clauses (e.g., sections 10C, 11, 24A), creating nested conditions where a rule applies only if multiple criteria are met.","**Technical legal mechanisms**: Includes complex equitable concepts like 'vesting orders' (court orders transferring property without needing the trustee to sign), 'cy-pres modification' (rewriting invalid trusts), and 'resulting trusts', which require advanced legal knowledge to apply.","**Dual legislation format**: The document includes both the original 1893 Act and the amending *Trustee Act 1907*, requiring readers to mentally integrate both texts to determine the current law."],"plain_english_summary":"**What this law does**\n\nThis is the Northern Territory's main rulebook for **trustees** — people (or companies) legally responsible for holding and managing assets (like money, land, or shares) for the benefit of others, known as **beneficiaries**. The Act sets out what trustees are allowed to do, what they must do, and what happens when things go wrong.\n\n**Who it affects**\n\n* **Trustees**: Anyone managing a trust fund, family estate, charity assets, or property on behalf of someone else.\n* **Beneficiaries**: People who receive income or assets from a trust (including children and unborn future beneficiaries).\n* **Courts**: The Supreme Court uses this Act to step in when trustees die, disappear, misbehave, or when trusts need fixing.\n\n**Key things it covers**\n\n* **Investments**: Trustees can invest trust money in almost anything (shares, property, securities) unless the trust document specifically forbids it. They must act like a \"prudent businessperson\" — reviewing investments yearly, considering risk, diversification, inflation, and the needs of beneficiaries (Part I).\n* **Changing trustees**: Explains how to appoint new trustees when one dies, moves away, or wants to retire, and how to transfer property to them (Parts II & IV).\n* **Managing property**: Trustees can sell trust land, insure buildings, renew leases, buy a house for a beneficiary to live in, and use trust money for a child's education or maintenance (Part II).\n* **Court powers**: Courts can remove bad trustees, transfer assets when trustees are missing or mentally incapable, excuse honest trustees who made mistakes from personal liability, and even rewrite trusts that break the \"rule against perpetuities\" (a legal rule that stops assets being tied up forever) (Part III).\n* **Protections**: Trustees who act honestly and reasonably can be relieved from liability for losses, and beneficiaries who pressure trustees into bad decisions can be forced to compensate the trust (Part III).\n\n**Why it matters**\n\nTrusts control billions of dollars in family wealth, superannuation, and charitable funds. This Act provides the legal backbone ensuring that people managing other people's money do so carefully, that assets can be transferred smoothly between generations, and that courts have the tools to fix problems when trustees fail or when old trust documents don't fit modern circumstances."},"flash_summary":{"complexity_score":8,"scope_assessment":{"changed":true,"description":"Yes. The 1893 Act began as a consolidation of common‑law trustee rules; subsequent amendments — especially in the 1990s and the 2000s — materially expanded its substantive scope. Notable scope enlargements include: statutory liberalisation of trustee investment powers to ‘any form of investment’ and creation of a statutory prudence standard and annual review requirement (ss5–6, 8); added statutory safe‑harbours and limits on liability for certain loans and retained investments (ss10B, 10C–10D); an express power to acquire or retain a dwelling for a beneficiary (s10A); modern Court powers to authorise otherwise‑unauthorised transactions and to reform dispositions constrained by perpetuity rules (ss50A, 50AA); and procedural modernisation linking trustee appointment and vesting orders to the Land Title Act registration framework (Part IV; ss56–59, s81). Those additions significantly broaden trustees’ operational discretion, the role of professional advisers, and the Court’s supervisory and authorising functions compared with the Act’s original, narrower 1893 consolidation purpose."},"complexity_factors":["Lengthy Act with over 80 substantive sections and multiple Schedules (ss1–82 plus Schedules)","Five Parts with distinct subject-matter and procedural rules (Parts I–V)","Extensive cross-referencing to other statutes (Land Title Act 2000 s81; Law of Property Act 2000; Perpetuities Act 1994 referenced via amendments)","Multiple amendment layers (notably Trustee Amendment Acts 1994–1995, 2000 amendments) introducing conditional safe‑harbours and new powers (e.g. ss10A–10G, 10C–10D, 50A, 50AA)","Numerous discretionary Court powers with complex preconditions and consequences (ss27–41, 50A, 50AA)","Nested duties and exceptions (statutory duties in ss6–8 alongside preserved equitable duties at s7 and instrument‑specific contrary intentions)","Administrative and registration regime in Part IV that integrates with Land Title Act 2000 (ss54–60)","Several transitional and saving provisions and retrospective/forward‑applicability clauses (s4 application to trusts before/after Amendments; s10G transitional reading)"],"plain_english_summary":"**What this Act does (mechanics first)**\n\n- Confers and clarifies the legal powers, duties and remedies that apply to people (and companies) who act as trustees or executors of estates. Key mechanics include: ability to invest and vary investments (s5); a statutory standard of care for investment and an annual review duty (s6(1), s6(3)); a non-exhaustive list of investment factors trustees must consider (s8); statutory powers to sell, mortgage, insure, lease, buy and otherwise deal with trust property (see ss14, 18A, 19, 20, 21, 10A); powers to appoint, retire and replace trustees and to vest trust property in new trustees (ss11–13, Part IV); and a broad package of Court powers to appoint trustees, make vesting orders, authorise dealings, and relieve or apportion liability (Parts III and ss49A, 50A, 50AA).  \n\n- Creates statutory safe‑harbours and limits on trustee liability in particular investment contexts: retention of previously authorised investments (s10B), lending on the security of property where steps were taken to verify value (s10C), limiting liability where the loan would have been proper in a smaller amount (s10D), and allowing courts to set off gains and losses across investments (ss10E–10F).  \n\n- Provides practical mechanics for administration: trustees may appoint banks or legal practitioners to receive trust money (s17); reasonable costs of professional advice are payable from the trust (s7(3), s8(2)); trustees can apply to the Supreme Court for declarations about perpetuity (s21A) and for authorisation to do transactions otherwise beyond their powers (s50A). The Court’s orders can be registered and enforced against land under the Land Title Act framework (Part IV; ss56–59; s81).  \n\n**Who it affects**\n\n- Trustees and executors (individuals and trustee companies) — primary regulatees (multiple sections throughout, e.g. ss5–13, 17–21).  \n- Beneficiaries of trusts — have rights and protections (for example, duties of impartiality and best‑interests rules preserved at s7(1)).  \n- Banks, legal practitioners and valuers — can be appointed as agents or relied on for valuations and receipts (ss17, 10C).  \n- Courts (Supreme Court) — extensive powers to authorise acts, appoint trustees, make vesting orders and allocate costs (Part III, especially ss27–41, 50A, 50AA).  \n- Third‑party purchasers, mortgagees and companies — protected by vesting and indemnity rules (ss35, 80, 37(3)–(4)).\n\n**Why it matters (claimed purpose, then practical trade‑offs)**\n\n- Officially, the Act consolidates and modernises trustee law: it gives trustees clearer statutory powers to invest and manage trust property, sets an identifiable standard of care for investment, provides practical mechanisms for trustee turnover and property vesting, and gives the Court tools to resolve practical problems in trust administration (see long title and the heads of Parts I–V).  \n\n- What that means in practice (trade‑offs, costs and incentives):\n  - Who pays: the trust fund (i.e. beneficiaries ultimately) bears direct administration costs such as court fees, insurance premiums, and the reasonable costs of obtaining professional advice (s7(3), s8(2), s41). The Court may order costs charged to the trust estate (s41).  \n  - Who decides: trustees exercise broad discretions to invest, retain or sell trust assets (ss5, 10B, 14); the Supreme Court has wide supervisory and authorising powers where trustees lack power or where problems arise (ss27, 50A).  \n  - Behaviour changes expected: trustees gain flexibility to invest in a wide range of assets and to follow an investment strategy; they are incentivised to obtain independent advice and to document reviews (s6(2)–(3), s8(2)). The Court’s ability to authorise transactions and to relieve or apportion liability encourages trustees to seek directions where there is risk (ss49A, 50A).  \n  - Compliance burden and implementation risk: trustees must perform annual reviews of investments (s6(3)) and consider a long list of investment factors (s8(1)), which creates record‑keeping and advisory costs. Court authorisations (s50A) and vesting orders (Part III) impose litigation and administrative costs where disputes or disabilities exist.  \n  - Effects on private markets and contract freedom: by allowing trustees to invest “in any form of investment” unless expressly forbidden (s5), the Act expands trustees’ contractual freedom to choose investments — this can increase demand for investment products and competition among providers, but it also increases potential for mistakes and litigation if trustees stray from the statutory prudence standards (s6, s7).  \n  - Concentrated benefits and diffuse costs: beneficiaries (or particular sub‑classes of beneficiaries) can receive concentrated benefits where trustees use powers like purchasing a residence for a named beneficiary (s10A) or applying capital for advancement (s24A), while the administrative and compliance costs are spread across all beneficiaries.  \n  - Rent‑seeking / capture risk: the Act permits trustees broad discretion and indemnities (s26, s80); where trustees are also service providers (trustee companies), there is a structural incentive to favour strategies that increase fees (the Act leaves trustee remuneration subject to Court supervision at s78).  \n\n**Practical points trustees and beneficiaries should note**\n\n- Trustees have a wide statutory investment power but a legally enforceable standard of care (s5; s6(1)). Trustees who are professional fiduciaries face a higher benchmark (s6(1)(a)).  \n- Trustees should keep records of annual investment reviews (s6(3)) and evidence of independent advice where used (s8(2), s10E(d)).  \n- The Court can authorise otherwise‑impermissible transactions (s50A) and may relieve trustees of personal liability if they acted honestly and reasonably (s49A).  \n- Costs of obtaining professional advice and certain Court orders are payable from the trust (s7(3), s41), which reduces the trustee’s personal exposure but raises the trust’s administration cost.\n\n(References in parentheses are to specific sections quoted above.)"},"flash_summary_failed":{"failed":true,"reason":"Unauthenticated. Configure AI_GATEWAY_API_KEY or use a provider module. 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